Correlation Between Jahen Household and AVIC Fund
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By analyzing existing cross correlation between Jahen Household Products and AVIC Fund Management, you can compare the effects of market volatilities on Jahen Household 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 Jahen Household with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jahen Household and AVIC Fund.
Diversification Opportunities for Jahen Household and AVIC Fund
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jahen and AVIC is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Jahen Household Products 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 Jahen Household 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 Jahen Household Products 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 Jahen Household i.e., Jahen Household and AVIC Fund go up and down completely randomly.
Pair Corralation between Jahen Household and AVIC Fund
Assuming the 90 days trading horizon Jahen Household is expected to generate 1.66 times less return on investment than AVIC Fund. In addition to that, Jahen Household is 1.36 times more volatile than AVIC Fund Management. It trades about 0.12 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.27 per unit of volatility. If you would invest 1,090 in AVIC Fund Management on December 4, 2024 and sell it today you would earn a total of 81.00 from holding AVIC Fund Management or generate 7.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jahen Household Products vs. AVIC Fund Management
Performance |
| Timeline |
| Jahen Household Products |
| AVIC Fund Management |
Jahen Household and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jahen Household and AVIC Fund
The main advantage of trading using opposite Jahen Household and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jahen Household 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.| Jahen Household vs. Westone Information Industry | Jahen Household vs. Guangdong Silvere Sci | Jahen Household vs. JCHX Mining Management | Jahen Household vs. Tibet Huayu Mining |
| AVIC Fund vs. Shanghai Rongtai Health | AVIC Fund vs. Shanghai Jinfeng Wine | AVIC Fund vs. Andon Health Co | AVIC Fund vs. Heren Health Co |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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