Correlation Between Sharetronic Data and AVIC Fund
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By analyzing existing cross correlation between Sharetronic Data Technology and AVIC Fund Management, you can compare the effects of market volatilities on Sharetronic Data 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 Sharetronic Data with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sharetronic Data and AVIC Fund.
Diversification Opportunities for Sharetronic Data and AVIC Fund
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sharetronic and AVIC is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Sharetronic Data Technology 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 Sharetronic Data 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 Sharetronic Data Technology 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 Sharetronic Data i.e., Sharetronic Data and AVIC Fund go up and down completely randomly.
Pair Corralation between Sharetronic Data and AVIC Fund
Assuming the 90 days trading horizon Sharetronic Data Technology is expected to under-perform the AVIC Fund. In addition to that, Sharetronic Data is 6.72 times more volatile than AVIC Fund Management. It trades about -0.14 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.34 per unit of volatility. If you would invest 1,049 in AVIC Fund Management on October 29, 2024 and sell it today you would earn a total of 50.00 from holding AVIC Fund Management or generate 4.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Sharetronic Data Technology vs. AVIC Fund Management
Performance |
| Timeline |
| Sharetronic Data Tec |
| AVIC Fund Management |
Sharetronic Data and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sharetronic Data and AVIC Fund
The main advantage of trading using opposite Sharetronic Data and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sharetronic Data 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.| Sharetronic Data vs. Zotye Automobile Co | Sharetronic Data vs. China Mobile Limited | Sharetronic Data vs. Muyuan Foodstuff Co | Sharetronic Data vs. Guangdong Wens Foodstuff |
| AVIC Fund vs. Industrial and Commercial | AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC Fund vs. China Mobile Limited |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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