Correlation Between AVIC Fund and Do Fluoride
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By analyzing existing cross correlation between AVIC Fund Management and Do Fluoride Chemicals Co, you can compare the effects of market volatilities on AVIC Fund and Do Fluoride 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 Do Fluoride. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Do Fluoride.
Diversification Opportunities for AVIC Fund and Do Fluoride
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between AVIC and 002407 is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Do Fluoride Chemicals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Do Fluoride Chemicals 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 Do Fluoride. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Do Fluoride Chemicals has no effect on the direction of AVIC Fund i.e., AVIC Fund and Do Fluoride go up and down completely randomly.
Pair Corralation between AVIC Fund and Do Fluoride
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.18 times more return on investment than Do Fluoride. However, AVIC Fund Management is 5.45 times less risky than Do Fluoride. It trades about 0.24 of its potential returns per unit of risk. Do Fluoride Chemicals Co is currently generating about -0.03 per unit of risk. If you would invest 889.00 in AVIC Fund Management on October 12, 2024 and sell it today you would earn a total of 213.00 from holding AVIC Fund Management or generate 23.96% 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. Do Fluoride Chemicals Co
Performance |
| Timeline |
| AVIC Fund Management |
| Do Fluoride Chemicals |
AVIC Fund and Do Fluoride Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Do Fluoride
The main advantage of trading using opposite AVIC Fund and Do Fluoride positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Do Fluoride 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 Do Fluoride will offset losses from the drop in Do Fluoride's long position.| AVIC Fund vs. Shenzhen Glory Medical | AVIC Fund vs. Chongqing Brewery Co | AVIC Fund vs. Hengkang Medical Group | AVIC Fund vs. CSSC Offshore Marine |
| Do Fluoride vs. Anhui Deli Household | Do Fluoride vs. AVIC Fund Management | Do Fluoride vs. Zhejiang Publishing Media | Do Fluoride vs. Chahua Modern Housewares |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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