Correlation Between AVIC Fund and Jiajia Food
Specify exactly 2 symbols:
By analyzing existing cross correlation between AVIC Fund Management and Jiajia Food Group, you can compare the effects of market volatilities on AVIC Fund and Jiajia Food 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 Jiajia Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Jiajia Food.
Diversification Opportunities for AVIC Fund and Jiajia Food
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AVIC and Jiajia is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Jiajia Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiajia Food Group 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 Jiajia Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiajia Food Group has no effect on the direction of AVIC Fund i.e., AVIC Fund and Jiajia Food go up and down completely randomly.
Pair Corralation between AVIC Fund and Jiajia Food
Assuming the 90 days trading horizon AVIC Fund is expected to generate 2.7 times less return on investment than Jiajia Food. But when comparing it to its historical volatility, AVIC Fund Management is 7.01 times less risky than Jiajia Food. It trades about 0.49 of its potential returns per unit of risk. Jiajia Food Group is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 422.00 in Jiajia Food Group on September 28, 2024 and sell it today you would earn a total of 57.00 from holding Jiajia Food Group or generate 13.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
AVIC Fund Management vs. Jiajia Food Group
Performance |
| Timeline |
| AVIC Fund Management |
| Jiajia Food Group |
AVIC Fund and Jiajia Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Jiajia Food
The main advantage of trading using opposite AVIC Fund and Jiajia Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Jiajia Food 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 Jiajia Food will offset losses from the drop in Jiajia Food's long position.| AVIC Fund vs. Kunshan Guoli Electronic | AVIC Fund vs. YiDong Electronics Technology | AVIC Fund vs. Eyebright Medical Technology | AVIC Fund vs. Unigroup Guoxin Microelectronics |
| Jiajia Food vs. AVIC Fund Management | Jiajia Food vs. Hefei Metalforming Mach | Jiajia Food vs. Ningbo Thermal Power | Jiajia Food vs. China Nonferrous Metal |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |