Correlation Between AVIC Fund and Shenzhen Clou
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By analyzing existing cross correlation between AVIC Fund Management and Shenzhen Clou Electronics, you can compare the effects of market volatilities on AVIC Fund and Shenzhen Clou 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 Shenzhen Clou. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Shenzhen Clou.
Diversification Opportunities for AVIC Fund and Shenzhen Clou
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AVIC and Shenzhen is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Shenzhen Clou Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Clou Electronics 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 Shenzhen Clou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Clou Electronics has no effect on the direction of AVIC Fund i.e., AVIC Fund and Shenzhen Clou go up and down completely randomly.
Pair Corralation between AVIC Fund and Shenzhen Clou
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.32 times more return on investment than Shenzhen Clou. However, AVIC Fund Management is 3.17 times less risky than Shenzhen Clou. It trades about 0.02 of its potential returns per unit of risk. Shenzhen Clou Electronics is currently generating about -0.09 per unit of risk. If you would invest 1,097 in AVIC Fund Management on November 6, 2024 and sell it today you would earn a total of 2.00 from holding AVIC Fund Management or generate 0.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Shenzhen Clou Electronics
Performance |
| Timeline |
| AVIC Fund Management |
| Shenzhen Clou Electronics |
AVIC Fund and Shenzhen Clou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Shenzhen Clou
The main advantage of trading using opposite AVIC Fund and Shenzhen Clou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Shenzhen Clou 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 Shenzhen Clou will offset losses from the drop in Shenzhen Clou's long position.| AVIC Fund vs. Shandong Rike Chemical | AVIC Fund vs. HeBei Jinniu Chemical | AVIC Fund vs. Zhonghong Pulin Medical | AVIC Fund vs. Offshore Oil Engineering |
| Shenzhen Clou vs. Hubeiyichang Transportation Group | Shenzhen Clou vs. Inspur Software Co | Shenzhen Clou vs. Beijing Yanjing Brewery | Shenzhen Clou vs. Shenzhen Urban Transport |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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