Correlation Between AVCON Information and Agricultural Bank
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By analyzing existing cross correlation between AVCON Information Tech and Agricultural Bank of, you can compare the effects of market volatilities on AVCON Information and Agricultural Bank 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 Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVCON Information and Agricultural Bank.
Diversification Opportunities for AVCON Information and Agricultural Bank
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AVCON and Agricultural is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding AVCON Information Tech and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank 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 Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of AVCON Information i.e., AVCON Information and Agricultural Bank go up and down completely randomly.
Pair Corralation between AVCON Information and Agricultural Bank
Assuming the 90 days trading horizon AVCON Information Tech is expected to generate 3.51 times more return on investment than Agricultural Bank. However, AVCON Information is 3.51 times more volatile than Agricultural Bank of. It trades about 0.2 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.04 per unit of risk. If you would invest 425.00 in AVCON Information Tech on September 3, 2024 and sell it today you would earn a total of 58.00 from holding AVCON Information Tech or generate 13.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVCON Information Tech vs. Agricultural Bank of
Performance |
| Timeline |
| AVCON Information Tech |
| Agricultural Bank |
AVCON Information and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVCON Information and Agricultural Bank
The main advantage of trading using opposite AVCON Information and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVCON Information position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| AVCON Information vs. Agricultural Bank of | AVCON Information vs. China Construction Bank | AVCON Information vs. Postal Savings Bank | AVCON Information vs. Bank of Communications |
| Agricultural Bank vs. Kunwu Jiuding Investment | Agricultural Bank vs. Harbin Hatou Investment | Agricultural Bank vs. Dazhong Transportation Group | Agricultural Bank vs. Metro Investment Development |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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