Correlation Between CSG Holding and AVIC Fund
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By analyzing existing cross correlation between CSG Holding Co and AVIC Fund Management, you can compare the effects of market volatilities on CSG Holding 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 CSG Holding with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSG Holding and AVIC Fund.
Diversification Opportunities for CSG Holding and AVIC Fund
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CSG and AVIC is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding CSG Holding 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 CSG Holding 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 CSG Holding 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 CSG Holding i.e., CSG Holding and AVIC Fund go up and down completely randomly.
Pair Corralation between CSG Holding and AVIC Fund
Assuming the 90 days trading horizon CSG Holding Co is expected to under-perform the AVIC Fund. In addition to that, CSG Holding is 3.45 times more volatile than AVIC Fund Management. It trades about -0.28 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.23 per unit of volatility. If you would invest 1,067 in AVIC Fund Management on November 3, 2024 and sell it today you would earn a total of 32.00 from holding AVIC Fund Management or generate 3.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CSG Holding Co vs. AVIC Fund Management
Performance |
| Timeline |
| CSG Holding |
| AVIC Fund Management |
CSG Holding and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSG Holding and AVIC Fund
The main advantage of trading using opposite CSG Holding and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSG Holding 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.| CSG Holding vs. Jinhe Biotechnology Co | CSG Holding vs. Tinavi Medical Technologies | CSG Holding vs. Xiangyu Medical Co | CSG Holding vs. Sichuan Hebang Biotechnology |
| AVIC Fund vs. Fujian Wanchen Biotechnology | AVIC Fund vs. Maccura Biotechnology Co | AVIC Fund vs. China Sports Industry | AVIC Fund vs. Ningbo MedicalSystem Biotechnology |
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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