Correlation Between Haoxiangni Jujube and AVIC Fund
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By analyzing existing cross correlation between Haoxiangni Jujube Co and AVIC Fund Management, you can compare the effects of market volatilities on Haoxiangni Jujube 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 Haoxiangni Jujube with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxiangni Jujube and AVIC Fund.
Diversification Opportunities for Haoxiangni Jujube and AVIC Fund
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Haoxiangni and AVIC is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Haoxiangni Jujube Co 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 Haoxiangni Jujube 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 Haoxiangni Jujube Co 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 Haoxiangni Jujube i.e., Haoxiangni Jujube and AVIC Fund go up and down completely randomly.
Pair Corralation between Haoxiangni Jujube and AVIC Fund
Assuming the 90 days trading horizon Haoxiangni Jujube Co is expected to generate 11.54 times more return on investment than AVIC Fund. However, Haoxiangni Jujube is 11.54 times more volatile than AVIC Fund Management. It trades about 0.05 of its potential returns per unit of risk. AVIC Fund Management is currently generating about 0.23 per unit of risk. If you would invest 911.00 in Haoxiangni Jujube Co on November 3, 2024 and sell it today you would earn a total of 21.00 from holding Haoxiangni Jujube Co or generate 2.31% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Haoxiangni Jujube Co vs. AVIC Fund Management
Performance |
Timeline |
Haoxiangni Jujube |
AVIC Fund Management |
Haoxiangni Jujube and AVIC Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Haoxiangni Jujube and AVIC Fund
The main advantage of trading using opposite Haoxiangni Jujube and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxiangni Jujube 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.Haoxiangni Jujube vs. Jiangsu Phoenix Publishing | Haoxiangni Jujube vs. Zhejiang Publishing Media | Haoxiangni Jujube vs. Beijing Yanjing Brewery | Haoxiangni Jujube vs. Caihong Display Devices |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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