Correlation Between AVIC Fund and Thunder Software
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By analyzing existing cross correlation between AVIC Fund Management and Thunder Software Technology, you can compare the effects of market volatilities on AVIC Fund and Thunder Software 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 Thunder Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Thunder Software.
Diversification Opportunities for AVIC Fund and Thunder Software
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AVIC and Thunder is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Thunder Software Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thunder Software Tec 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 Thunder Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thunder Software Tec has no effect on the direction of AVIC Fund i.e., AVIC Fund and Thunder Software go up and down completely randomly.
Pair Corralation between AVIC Fund and Thunder Software
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.19 times more return on investment than Thunder Software. However, AVIC Fund Management is 5.19 times less risky than Thunder Software. It trades about 0.33 of its potential returns per unit of risk. Thunder Software Technology is currently generating about -0.31 per unit of risk. If you would invest 1,048 in AVIC Fund Management on October 21, 2024 and sell it today you would earn a total of 44.00 from holding AVIC Fund Management or generate 4.2% 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. Thunder Software Technology
Performance |
| Timeline |
| AVIC Fund Management |
| Thunder Software Tec |
AVIC Fund and Thunder Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Thunder Software
The main advantage of trading using opposite AVIC Fund and Thunder Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Thunder Software 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 Thunder Software will offset losses from the drop in Thunder Software's long position.| AVIC Fund vs. Soochow Suzhou Industrial | AVIC Fund vs. Guangdong Jinma Entertainment | AVIC Fund vs. Southern PublishingMedia Co | AVIC Fund vs. Qingdao Choho Industrial |
| Thunder Software vs. Guangzhou Zhujiang Brewery | Thunder Software vs. Qingdao Haier Biomedical | Thunder Software vs. Servyou Software Group | Thunder Software vs. Eastroc Beverage 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 CEOs Directory module to screen CEOs from public companies around the world.
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