Correlation Between AVIC Fund and Datang Telecom
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By analyzing existing cross correlation between AVIC Fund Management and Datang Telecom Technology, you can compare the effects of market volatilities on AVIC Fund and Datang Telecom 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 Datang Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Datang Telecom.
Diversification Opportunities for AVIC Fund and Datang Telecom
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between AVIC and Datang is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Datang Telecom Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Datang Telecom Technology 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 Datang Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Datang Telecom Technology has no effect on the direction of AVIC Fund i.e., AVIC Fund and Datang Telecom go up and down completely randomly.
Pair Corralation between AVIC Fund and Datang Telecom
Assuming the 90 days trading horizon AVIC Fund is expected to generate 4.41 times less return on investment than Datang Telecom. But when comparing it to its historical volatility, AVIC Fund Management is 4.41 times less risky than Datang Telecom. It trades about 0.05 of its potential returns per unit of risk. Datang Telecom Technology is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 635.00 in Datang Telecom Technology on August 29, 2024 and sell it today you would earn a total of 396.00 from holding Datang Telecom Technology or generate 62.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 84.66% |
| Values | Daily Returns |
AVIC Fund Management vs. Datang Telecom Technology
Performance |
| Timeline |
| AVIC Fund Management |
| Datang Telecom Technology |
AVIC Fund and Datang Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Datang Telecom
The main advantage of trading using opposite AVIC Fund and Datang Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Datang Telecom 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 Datang Telecom will offset losses from the drop in Datang Telecom's long position.| AVIC Fund vs. Suzhou Mingzhi Technology | AVIC Fund vs. Ningbo Tech Bank Co | AVIC Fund vs. GRG Banking Equipment | AVIC Fund vs. Fujian Newland Computer |
| Datang Telecom vs. Shenzhen MYS Environmental | Datang Telecom vs. AVIC Fund Management | Datang Telecom vs. Shenzhen Bingchuan Network | Datang Telecom vs. Penghua Shenzhen Energy |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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