Correlation Between AVIC Fund and Beijing SPC
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By analyzing existing cross correlation between AVIC Fund Management and Beijing SPC Environment, you can compare the effects of market volatilities on AVIC Fund and Beijing SPC 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 Beijing SPC. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Beijing SPC.
Diversification Opportunities for AVIC Fund and Beijing SPC
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AVIC and Beijing is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Beijing SPC Environment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing SPC Environment 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 Beijing SPC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing SPC Environment has no effect on the direction of AVIC Fund i.e., AVIC Fund and Beijing SPC go up and down completely randomly.
Pair Corralation between AVIC Fund and Beijing SPC
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.32 times more return on investment than Beijing SPC. However, AVIC Fund Management is 3.08 times less risky than Beijing SPC. It trades about 0.11 of its potential returns per unit of risk. Beijing SPC Environment is currently generating about -0.01 per unit of risk. If you would invest 850.00 in AVIC Fund Management on September 4, 2024 and sell it today you would earn a total of 164.00 from holding AVIC Fund Management or generate 19.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Beijing SPC Environment
Performance |
| Timeline |
| AVIC Fund Management |
| Beijing SPC Environment |
AVIC Fund and Beijing SPC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Beijing SPC
The main advantage of trading using opposite AVIC Fund and Beijing SPC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Beijing SPC 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 Beijing SPC will offset losses from the drop in Beijing SPC'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 |
| Beijing SPC vs. Agricultural Bank of | Beijing SPC vs. Industrial and Commercial | Beijing SPC vs. Bank of China | Beijing SPC vs. China Construction Bank |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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