Correlation Between AVIC Fund and Beijing Jiaman
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By analyzing existing cross correlation between AVIC Fund Management and Beijing Jiaman Dress, you can compare the effects of market volatilities on AVIC Fund and Beijing Jiaman 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 Beijing Jiaman. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Beijing Jiaman.
Diversification Opportunities for AVIC Fund and Beijing Jiaman
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AVIC and Beijing is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Beijing Jiaman Dress in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Jiaman Dress 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 Beijing Jiaman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Jiaman Dress has no effect on the direction of AVIC Fund i.e., AVIC Fund and Beijing Jiaman go up and down completely randomly.
Pair Corralation between AVIC Fund and Beijing Jiaman
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.26 times more return on investment than Beijing Jiaman. However, AVIC Fund Management is 3.79 times less risky than Beijing Jiaman. It trades about 0.17 of its potential returns per unit of risk. Beijing Jiaman Dress is currently generating about 0.0 per unit of risk. If you would invest 835.00 in AVIC Fund Management on October 18, 2024 and sell it today you would earn a total of 259.00 from holding AVIC Fund Management or generate 31.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Beijing Jiaman Dress
Performance |
| Timeline |
| AVIC Fund Management |
| Beijing Jiaman Dress |
AVIC Fund and Beijing Jiaman Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Beijing Jiaman
The main advantage of trading using opposite AVIC Fund and Beijing Jiaman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Beijing Jiaman 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 Beijing Jiaman will offset losses from the drop in Beijing Jiaman's long position.| AVIC Fund vs. Runjian Communication Co | AVIC Fund vs. Tianjin Hi Tech Development | AVIC Fund vs. Caihong Display Devices | AVIC Fund vs. Unisplendour Corp |
| Beijing Jiaman vs. Jinling Hotel Corp | Beijing Jiaman vs. Guangzhou Dongfang Hotel | Beijing Jiaman vs. Huatian Hotel Group | Beijing Jiaman vs. AVIC Fund Management |
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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