Correlation Between AVCON Information and Xinjiang Tianshun
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By analyzing existing cross correlation between AVCON Information Tech and Xinjiang Tianshun Supply, you can compare the effects of market volatilities on AVCON Information and Xinjiang Tianshun 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 AVCON Information with a short position of Xinjiang Tianshun. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVCON Information and Xinjiang Tianshun.
Diversification Opportunities for AVCON Information and Xinjiang Tianshun
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between AVCON and Xinjiang is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding AVCON Information Tech and Xinjiang Tianshun Supply in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xinjiang Tianshun Supply and AVCON Information 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 AVCON Information Tech are associated (or correlated) with Xinjiang Tianshun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xinjiang Tianshun Supply has no effect on the direction of AVCON Information i.e., AVCON Information and Xinjiang Tianshun go up and down completely randomly.
Pair Corralation between AVCON Information and Xinjiang Tianshun
Assuming the 90 days trading horizon AVCON Information Tech is expected to generate 1.31 times more return on investment than Xinjiang Tianshun. However, AVCON Information is 1.31 times more volatile than Xinjiang Tianshun Supply. It trades about 0.2 of its potential returns per unit of risk. Xinjiang Tianshun Supply is currently generating about 0.2 per unit of risk. If you would invest 320.00 in AVCON Information Tech on September 12, 2024 and sell it today you would earn a total of 185.00 from holding AVCON Information Tech or generate 57.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVCON Information Tech vs. Xinjiang Tianshun Supply
Performance |
| Timeline |
| AVCON Information Tech |
| Xinjiang Tianshun Supply |
AVCON Information and Xinjiang Tianshun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVCON Information and Xinjiang Tianshun
The main advantage of trading using opposite AVCON Information and Xinjiang Tianshun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVCON Information position performs unexpectedly, Xinjiang Tianshun 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 Xinjiang Tianshun will offset losses from the drop in Xinjiang Tianshun's long position.| AVCON Information vs. Industrial and Commercial | AVCON Information vs. China Construction Bank | AVCON Information vs. Bank of China | AVCON Information vs. Agricultural Bank of |
| Xinjiang Tianshun vs. Beijing SPC Environment | Xinjiang Tianshun vs. Hang Xiao Steel | Xinjiang Tianshun vs. King Strong New Material | Xinjiang Tianshun vs. Tianjin Capital Environmental |
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 CEOs Directory module to screen CEOs from public companies around the world.
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