Correlation Between AVIC Fund and Gifore Agricultural
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By analyzing existing cross correlation between AVIC Fund Management and Gifore Agricultural Machinery, you can compare the effects of market volatilities on AVIC Fund and Gifore Agricultural 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 Gifore Agricultural. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Gifore Agricultural.
Diversification Opportunities for AVIC Fund and Gifore Agricultural
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AVIC and Gifore is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Gifore Agricultural Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gifore Agricultural 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 Gifore Agricultural. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gifore Agricultural has no effect on the direction of AVIC Fund i.e., AVIC Fund and Gifore Agricultural go up and down completely randomly.
Pair Corralation between AVIC Fund and Gifore Agricultural
Assuming the 90 days trading horizon AVIC Fund is expected to generate 5.24 times less return on investment than Gifore Agricultural. But when comparing it to its historical volatility, AVIC Fund Management is 7.77 times less risky than Gifore Agricultural. It trades about 0.15 of its potential returns per unit of risk. Gifore Agricultural Machinery is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 361.00 in Gifore Agricultural Machinery on September 28, 2024 and sell it today you would earn a total of 155.00 from holding Gifore Agricultural Machinery or generate 42.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Gifore Agricultural Machinery
Performance |
| Timeline |
| AVIC Fund Management |
| Gifore Agricultural |
AVIC Fund and Gifore Agricultural Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Gifore Agricultural
The main advantage of trading using opposite AVIC Fund and Gifore Agricultural positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Gifore Agricultural 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 Gifore Agricultural will offset losses from the drop in Gifore Agricultural'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 |
| Gifore Agricultural vs. Hengdian Entertainment Co | Gifore Agricultural vs. Oppein Home Group | Gifore Agricultural vs. Guangdong Jinma Entertainment | Gifore Agricultural vs. Mengtian Home Group |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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