Correlation Between Heren Health and AVIC Fund
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By analyzing existing cross correlation between Heren Health Co and AVIC Fund Management, you can compare the effects of market volatilities on Heren Health 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 Heren Health with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Heren Health and AVIC Fund.
Diversification Opportunities for Heren Health and AVIC Fund
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Heren and AVIC is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Heren Health 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 Heren Health 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 Heren Health 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 Heren Health i.e., Heren Health and AVIC Fund go up and down completely randomly.
Pair Corralation between Heren Health and AVIC Fund
Assuming the 90 days trading horizon Heren Health Co is expected to under-perform the AVIC Fund. In addition to that, Heren Health is 6.06 times more volatile than AVIC Fund Management. It trades about -0.13 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.43 per unit of volatility. If you would invest 1,032 in AVIC Fund Management on October 17, 2024 and sell it today you would earn a total of 62.00 from holding AVIC Fund Management or generate 6.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Heren Health Co vs. AVIC Fund Management
Performance |
| Timeline |
| Heren Health |
| AVIC Fund Management |
Heren Health and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Heren Health and AVIC Fund
The main advantage of trading using opposite Heren Health and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Heren Health 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.| Heren Health vs. Industrial and Commercial | Heren Health vs. China Construction Bank | Heren Health vs. Bank of China | Heren Health vs. Agricultural Bank of |
| AVIC Fund vs. Anhui Jianghuai Automobile | AVIC Fund vs. Vanfund Urban Investment | AVIC Fund vs. Hunan Investment Group | AVIC Fund vs. Chengdu Xingrong Investment |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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