Correlation Between AVIC Fund and Harvest Fund
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By analyzing existing cross correlation between AVIC Fund Management and Harvest Fund Management, you can compare the effects of market volatilities on AVIC Fund and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Harvest Fund.
Diversification Opportunities for AVIC Fund and Harvest Fund
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between AVIC and Harvest is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of AVIC Fund i.e., AVIC Fund and Harvest Fund go up and down completely randomly.
Pair Corralation between AVIC Fund and Harvest Fund
Assuming the 90 days trading horizon AVIC Fund is expected to generate 25.41 times less return on investment than Harvest Fund. But when comparing it to its historical volatility, AVIC Fund Management is 1.35 times less risky than Harvest Fund. It trades about 0.02 of its potential returns per unit of risk. Harvest Fund Management is currently generating about 0.41 of returns per unit of risk over similar time horizon. If you would invest 320.00 in Harvest Fund Management on November 5, 2024 and sell it today you would earn a total of 17.00 from holding Harvest Fund Management or generate 5.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Harvest Fund Management
Performance |
| Timeline |
| AVIC Fund Management |
| Harvest Fund Management |
AVIC Fund and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Harvest Fund
The main advantage of trading using opposite AVIC Fund and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| AVIC Fund vs. Jahen Household Products | AVIC Fund vs. Ningbo Ligong Online | AVIC Fund vs. Weihai Honglin Electronic | AVIC Fund vs. Fuzhou Rockchip Electronics |
| Harvest Fund vs. Yunnan Jianzhijia Health Chain | Harvest Fund vs. Meinian Onehealth Healthcare | Harvest Fund vs. Dezhan HealthCare Co | Harvest Fund vs. Shenzhen Topway Video |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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