Correlation Between AVIC Fund and Easyhome New
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By analyzing existing cross correlation between AVIC Fund Management and Easyhome New Retail, you can compare the effects of market volatilities on AVIC Fund and Easyhome New 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 Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Easyhome New.
Diversification Opportunities for AVIC Fund and Easyhome New
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AVIC and Easyhome is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail 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 Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of AVIC Fund i.e., AVIC Fund and Easyhome New go up and down completely randomly.
Pair Corralation between AVIC Fund and Easyhome New
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.27 times more return on investment than Easyhome New. However, AVIC Fund Management is 3.7 times less risky than Easyhome New. It trades about 0.07 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.0 per unit of risk. If you would invest 884.00 in AVIC Fund Management on October 27, 2024 and sell it today you would earn a total of 212.00 from holding AVIC Fund Management or generate 23.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 92.32% |
| Values | Daily Returns |
AVIC Fund Management vs. Easyhome New Retail
Performance |
| Timeline |
| AVIC Fund Management |
| Easyhome New Retail |
AVIC Fund and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Easyhome New
The main advantage of trading using opposite AVIC Fund and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| AVIC Fund vs. Industrial and Commercial | AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC Fund vs. China Mobile Limited |
| Easyhome New vs. Zoje Resources Investment | Easyhome New vs. Xiamen Insight Investment | Easyhome New vs. Guangzhou Dongfang Hotel | Easyhome New vs. Xiandai Investment Co |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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