Correlation Between Huaxia Fund and Bank of XiAn
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By analyzing existing cross correlation between Huaxia Fund Management and Bank of XiAn, you can compare the effects of market volatilities on Huaxia Fund and Bank of XiAn 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 Huaxia Fund with a short position of Bank of XiAn. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huaxia Fund and Bank of XiAn.
Diversification Opportunities for Huaxia Fund and Bank of XiAn
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Huaxia and Bank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Huaxia Fund Management and Bank of XiAn in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of XiAn and Huaxia Fund 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 Huaxia Fund Management are associated (or correlated) with Bank of XiAn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of XiAn has no effect on the direction of Huaxia Fund i.e., Huaxia Fund and Bank of XiAn go up and down completely randomly.
Pair Corralation between Huaxia Fund and Bank of XiAn
If you would invest 299.00 in Huaxia Fund Management on November 3, 2024 and sell it today you would earn a total of 9.00 from holding Huaxia Fund Management or generate 3.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Huaxia Fund Management vs. Bank of XiAn
Performance |
| Timeline |
| Huaxia Fund Management |
| Bank of XiAn |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Huaxia Fund and Bank of XiAn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huaxia Fund and Bank of XiAn
The main advantage of trading using opposite Huaxia Fund and Bank of XiAn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huaxia Fund position performs unexpectedly, Bank of XiAn 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 Bank of XiAn will offset losses from the drop in Bank of XiAn's long position.| Huaxia Fund vs. Fuzhou Rockchip Electronics | Huaxia Fund vs. Tonghua Grape Wine | Huaxia Fund vs. Nantong Haixing Electronics | Huaxia Fund vs. Cabio Biotech Wuhan |
| Bank of XiAn vs. Elite Color Environmental | Bank of XiAn vs. Hangzhou Guotai Environmental | Bank of XiAn vs. City Development Environment | Bank of XiAn vs. Songz Automobile Air |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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