Correlation Between Sanbo Hospital and AVIC Fund
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By analyzing existing cross correlation between Sanbo Hospital Management and AVIC Fund Management, you can compare the effects of market volatilities on Sanbo Hospital 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 Sanbo Hospital with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sanbo Hospital and AVIC Fund.
Diversification Opportunities for Sanbo Hospital and AVIC Fund
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sanbo and AVIC is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Sanbo Hospital Management 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 Sanbo Hospital 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 Sanbo Hospital Management 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 Sanbo Hospital i.e., Sanbo Hospital and AVIC Fund go up and down completely randomly.
Pair Corralation between Sanbo Hospital and AVIC Fund
Assuming the 90 days trading horizon Sanbo Hospital Management is expected to generate 11.81 times more return on investment than AVIC Fund. However, Sanbo Hospital is 11.81 times more volatile than AVIC Fund Management. It trades about 0.19 of its potential returns per unit of risk. AVIC Fund Management is currently generating about 0.16 per unit of risk. If you would invest 3,152 in Sanbo Hospital Management on September 12, 2024 and sell it today you would earn a total of 1,728 from holding Sanbo Hospital Management or generate 54.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sanbo Hospital Management vs. AVIC Fund Management
Performance |
| Timeline |
| Sanbo Hospital Management |
| AVIC Fund Management |
Sanbo Hospital and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sanbo Hospital and AVIC Fund
The main advantage of trading using opposite Sanbo Hospital and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sanbo Hospital 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.| Sanbo Hospital vs. Shenzhen MYS Environmental | Sanbo Hospital vs. AVIC Fund Management | Sanbo Hospital vs. Shenzhen Bingchuan Network | Sanbo Hospital vs. Penghua Shenzhen Energy |
| AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC Fund vs. China Mobile Limited | AVIC Fund vs. China Construction Bank |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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