Correlation Between AVIC Fund and Dalian Zeus
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By analyzing existing cross correlation between AVIC Fund Management and Dalian Zeus Entertainment, you can compare the effects of market volatilities on AVIC Fund and Dalian Zeus 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 Dalian Zeus. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Dalian Zeus.
Diversification Opportunities for AVIC Fund and Dalian Zeus
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AVIC and Dalian is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Dalian Zeus Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dalian Zeus Entertainment 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 Dalian Zeus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dalian Zeus Entertainment has no effect on the direction of AVIC Fund i.e., AVIC Fund and Dalian Zeus go up and down completely randomly.
Pair Corralation between AVIC Fund and Dalian Zeus
Assuming the 90 days trading horizon AVIC Fund is expected to generate 28.0 times less return on investment than Dalian Zeus. But when comparing it to its historical volatility, AVIC Fund Management is 25.41 times less risky than Dalian Zeus. It trades about 0.25 of its potential returns per unit of risk. Dalian Zeus Entertainment is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 371.00 in Dalian Zeus Entertainment on September 3, 2024 and sell it today you would earn a total of 119.00 from holding Dalian Zeus Entertainment or generate 32.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Dalian Zeus Entertainment
Performance |
| Timeline |
| AVIC Fund Management |
| Dalian Zeus Entertainment |
AVIC Fund and Dalian Zeus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Dalian Zeus
The main advantage of trading using opposite AVIC Fund and Dalian Zeus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Dalian Zeus 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 Dalian Zeus will offset losses from the drop in Dalian Zeus' 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 |
| Dalian Zeus vs. Gansu Jiu Steel | Dalian Zeus vs. Ming Yang Smart | Dalian Zeus vs. Aba Chemicals Corp | Dalian Zeus vs. Loctek Ergonomic Technology |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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