Correlation Between Tianshui Huatian and AVIC Fund
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By analyzing existing cross correlation between Tianshui Huatian Technology and AVIC Fund Management, you can compare the effects of market volatilities on Tianshui Huatian and AVIC Fund and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Tianshui Huatian with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianshui Huatian and AVIC Fund.
Diversification Opportunities for Tianshui Huatian and AVIC Fund
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Tianshui and AVIC is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Tianshui Huatian Technology and AVIC Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVIC Fund Management and Tianshui Huatian is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Tianshui Huatian Technology are associated (or correlated) with AVIC Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVIC Fund Management has no effect on the direction of Tianshui Huatian i.e., Tianshui Huatian and AVIC Fund go up and down completely randomly.
Pair Corralation between Tianshui Huatian and AVIC Fund
Assuming the 90 days trading horizon Tianshui Huatian Technology is expected to under-perform the AVIC Fund. In addition to that, Tianshui Huatian is 4.03 times more volatile than AVIC Fund Management. It trades about -0.16 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.62 per unit of volatility. If you would invest 1,011 in AVIC Fund Management on October 10, 2024 and sell it today you would earn a total of 88.00 from holding AVIC Fund Management or generate 8.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianshui Huatian Technology vs. AVIC Fund Management
Performance |
| Timeline |
| Tianshui Huatian Tec |
| AVIC Fund Management |
Tianshui Huatian and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianshui Huatian and AVIC Fund
The main advantage of trading using opposite Tianshui Huatian and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianshui Huatian position performs unexpectedly, AVIC Fund can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AVIC Fund will offset losses from the drop in AVIC Fund's long position.| Tianshui Huatian vs. Jiangsu Yanghe Brewery | Tianshui Huatian vs. Guangdong Xiongsu Technology | Tianshui Huatian vs. Sinofibers Technology Co | Tianshui Huatian vs. Olympic Circuit Technology |
| AVIC Fund vs. Allwin Telecommunication Co | AVIC Fund vs. Guangxi Wuzhou Communications | AVIC Fund vs. Gansu Huangtai Wine marketing | AVIC Fund vs. Marssenger Kitchenware Co |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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