Correlation Between Jinsanjiang Silicon and AVIC Fund
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By analyzing existing cross correlation between Jinsanjiang Silicon Material and AVIC Fund Management, you can compare the effects of market volatilities on Jinsanjiang Silicon 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 Jinsanjiang Silicon with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jinsanjiang Silicon and AVIC Fund.
Diversification Opportunities for Jinsanjiang Silicon and AVIC Fund
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jinsanjiang and AVIC is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Jinsanjiang Silicon Material 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 Jinsanjiang Silicon 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 Jinsanjiang Silicon Material 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 Jinsanjiang Silicon i.e., Jinsanjiang Silicon and AVIC Fund go up and down completely randomly.
Pair Corralation between Jinsanjiang Silicon and AVIC Fund
Assuming the 90 days trading horizon Jinsanjiang Silicon Material is expected to under-perform the AVIC Fund. In addition to that, Jinsanjiang Silicon is 6.07 times more volatile than AVIC Fund Management. It trades about -0.15 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.23 per unit of volatility. If you would invest 1,059 in AVIC Fund Management on October 28, 2024 and sell it today you would earn a total of 37.00 from holding AVIC Fund Management or generate 3.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jinsanjiang Silicon Material vs. AVIC Fund Management
Performance |
| Timeline |
| Jinsanjiang Silicon |
| AVIC Fund Management |
Jinsanjiang Silicon and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jinsanjiang Silicon and AVIC Fund
The main advantage of trading using opposite Jinsanjiang Silicon and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jinsanjiang Silicon 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.| Jinsanjiang Silicon vs. Zijin Mining Group | Jinsanjiang Silicon vs. Wanhua Chemical Group | Jinsanjiang Silicon vs. Baoshan Iron Steel | Jinsanjiang Silicon vs. Shandong Gold Mining |
| 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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