Correlation Between AVIC Fund and Jiangxi Naipu
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By analyzing existing cross correlation between AVIC Fund Management and Jiangxi Naipu Mining, you can compare the effects of market volatilities on AVIC Fund and Jiangxi Naipu 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 Jiangxi Naipu. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Jiangxi Naipu.
Diversification Opportunities for AVIC Fund and Jiangxi Naipu
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between AVIC and Jiangxi is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Jiangxi Naipu Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi Naipu Mining 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 Jiangxi Naipu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi Naipu Mining has no effect on the direction of AVIC Fund i.e., AVIC Fund and Jiangxi Naipu go up and down completely randomly.
Pair Corralation between AVIC Fund and Jiangxi Naipu
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.42 times more return on investment than Jiangxi Naipu. However, AVIC Fund Management is 2.36 times less risky than Jiangxi Naipu. It trades about 0.23 of its potential returns per unit of risk. Jiangxi Naipu Mining is currently generating about -0.16 per unit of risk. If you would invest 1,059 in AVIC Fund Management on October 28, 2024 and sell it today you would earn a total of 37.00 from holding AVIC Fund Management or generate 3.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Jiangxi Naipu Mining
Performance |
| Timeline |
| AVIC Fund Management |
| Jiangxi Naipu Mining |
AVIC Fund and Jiangxi Naipu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Jiangxi Naipu
The main advantage of trading using opposite AVIC Fund and Jiangxi Naipu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Jiangxi Naipu 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 Jiangxi Naipu will offset losses from the drop in Jiangxi Naipu'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 |
| Jiangxi Naipu vs. Sichuan Yahua Industrial | Jiangxi Naipu vs. Soochow Suzhou Industrial | Jiangxi Naipu vs. Shanghai Yanpu Metal | Jiangxi Naipu vs. Zhejiang Yongjin 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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