Correlation Between AVIC Fund and China Vanke
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By analyzing existing cross correlation between AVIC Fund Management and China Vanke Co, you can compare the effects of market volatilities on AVIC Fund and China Vanke 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 AVIC Fund with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and China Vanke.
Diversification Opportunities for AVIC Fund and China Vanke
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between AVIC and China is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and AVIC 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 AVIC Fund Management are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of AVIC Fund i.e., AVIC Fund and China Vanke go up and down completely randomly.
Pair Corralation between AVIC Fund and China Vanke
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.23 times more return on investment than China Vanke. However, AVIC Fund Management is 4.41 times less risky than China Vanke. It trades about 0.4 of its potential returns per unit of risk. China Vanke Co is currently generating about -0.17 per unit of risk. If you would invest 997.00 in AVIC Fund Management on September 15, 2024 and sell it today you would earn a total of 33.00 from holding AVIC Fund Management or generate 3.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. China Vanke Co
Performance |
| Timeline |
| AVIC Fund Management |
| China Vanke |
AVIC Fund and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and China Vanke
The main advantage of trading using opposite AVIC Fund and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC Fund vs. China Mobile Limited | AVIC Fund vs. China Construction Bank |
| China Vanke vs. AVIC Fund Management | China Vanke vs. China Asset Management | China Vanke vs. Dazhong Transportation Group | China Vanke vs. Harvest Fund Management |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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