Correlation Between HaiXin Foods and AVCON Information
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By analyzing existing cross correlation between HaiXin Foods Co and AVCON Information Tech, you can compare the effects of market volatilities on HaiXin Foods and AVCON Information 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 HaiXin Foods with a short position of AVCON Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and AVCON Information.
Diversification Opportunities for HaiXin Foods and AVCON Information
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HaiXin and AVCON is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and AVCON Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVCON Information Tech and HaiXin Foods 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 HaiXin Foods Co are associated (or correlated) with AVCON Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVCON Information Tech has no effect on the direction of HaiXin Foods i.e., HaiXin Foods and AVCON Information go up and down completely randomly.
Pair Corralation between HaiXin Foods and AVCON Information
Assuming the 90 days trading horizon HaiXin Foods Co is expected to under-perform the AVCON Information. In addition to that, HaiXin Foods is 1.16 times more volatile than AVCON Information Tech. It trades about -0.3 of its total potential returns per unit of risk. AVCON Information Tech is currently generating about -0.19 per unit of volatility. If you would invest 465.00 in AVCON Information Tech on October 18, 2024 and sell it today you would lose (79.00) from holding AVCON Information Tech or give up 16.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. AVCON Information Tech
Performance |
| Timeline |
| HaiXin Foods |
| AVCON Information Tech |
HaiXin Foods and AVCON Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and AVCON Information
The main advantage of trading using opposite HaiXin Foods and AVCON Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods position performs unexpectedly, AVCON Information 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 AVCON Information will offset losses from the drop in AVCON Information's long position.| HaiXin Foods vs. Harbin Air Conditioning | HaiXin Foods vs. Chengdu Xingrong Investment | HaiXin Foods vs. Jiangsu Yueda Investment | HaiXin Foods vs. Fuzhou Rockchip Electronics |
| AVCON Information vs. Sportsoul Co Ltd | AVCON Information vs. Heilongjiang Publishing Media | AVCON Information vs. Duzhe Publishing Media | AVCON Information vs. Shuhua Sports 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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