Correlation Between AVIC Fund and Jiangsu Jinling
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By analyzing existing cross correlation between AVIC Fund Management and Jiangsu Jinling Sports, you can compare the effects of market volatilities on AVIC Fund and Jiangsu Jinling 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 Jiangsu Jinling. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Jiangsu Jinling.
Diversification Opportunities for AVIC Fund and Jiangsu Jinling
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between AVIC and Jiangsu is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Jiangsu Jinling Sports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jinling Sports 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 Jiangsu Jinling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jinling Sports has no effect on the direction of AVIC Fund i.e., AVIC Fund and Jiangsu Jinling go up and down completely randomly.
Pair Corralation between AVIC Fund and Jiangsu Jinling
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.24 times more return on investment than Jiangsu Jinling. However, AVIC Fund Management is 4.14 times less risky than Jiangsu Jinling. It trades about 0.05 of its potential returns per unit of risk. Jiangsu Jinling Sports is currently generating about -0.02 per unit of risk. If you would invest 884.00 in AVIC Fund Management on August 30, 2024 and sell it today you would earn a total of 120.00 from holding AVIC Fund Management or generate 13.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 84.91% |
| Values | Daily Returns |
AVIC Fund Management vs. Jiangsu Jinling Sports
Performance |
| Timeline |
| AVIC Fund Management |
| Jiangsu Jinling Sports |
AVIC Fund and Jiangsu Jinling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Jiangsu Jinling
The main advantage of trading using opposite AVIC Fund and Jiangsu Jinling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Jiangsu Jinling 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 Jiangsu Jinling will offset losses from the drop in Jiangsu Jinling'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 |
| Jiangsu Jinling vs. Cambricon Technologies Corp | Jiangsu Jinling vs. Loongson Technology Corp | Jiangsu Jinling vs. Shenzhen Fortune Trend | Jiangsu Jinling vs. Chongqing Road Bridge |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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