Correlation Between Jiujiang Shanshui and AVIC Fund
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By analyzing existing cross correlation between Jiujiang Shanshui Technology and AVIC Fund Management, you can compare the effects of market volatilities on Jiujiang Shanshui 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 Jiujiang Shanshui with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiujiang Shanshui and AVIC Fund.
Diversification Opportunities for Jiujiang Shanshui and AVIC Fund
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jiujiang and AVIC is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Jiujiang Shanshui 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 Jiujiang Shanshui 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 Jiujiang Shanshui 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 Jiujiang Shanshui i.e., Jiujiang Shanshui and AVIC Fund go up and down completely randomly.
Pair Corralation between Jiujiang Shanshui and AVIC Fund
Assuming the 90 days trading horizon Jiujiang Shanshui Technology is expected to generate 2.43 times more return on investment than AVIC Fund. However, Jiujiang Shanshui is 2.43 times more volatile than AVIC Fund Management. It trades about 0.16 of its potential returns per unit of risk. AVIC Fund Management is currently generating about 0.02 per unit of risk. If you would invest 1,488 in Jiujiang Shanshui Technology on November 5, 2024 and sell it today you would earn a total of 52.00 from holding Jiujiang Shanshui Technology or generate 3.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiujiang Shanshui Technology vs. AVIC Fund Management
Performance |
| Timeline |
| Jiujiang Shanshui |
| AVIC Fund Management |
Jiujiang Shanshui and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiujiang Shanshui and AVIC Fund
The main advantage of trading using opposite Jiujiang Shanshui and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiujiang Shanshui 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.| Jiujiang Shanshui vs. Zoje Resources Investment | Jiujiang Shanshui vs. Tianjin Ruixin Technology | Jiujiang Shanshui vs. Nuode Investment Co | Jiujiang Shanshui vs. Henan Shuanghui Investment |
| AVIC Fund vs. Jahen Household Products | AVIC Fund vs. Ningbo Ligong Online | AVIC Fund vs. Weihai Honglin Electronic | AVIC Fund vs. Fuzhou Rockchip Electronics |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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