Correlation Between AVIC Fund and Ming Yang
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By analyzing existing cross correlation between AVIC Fund Management and Ming Yang Smart, you can compare the effects of market volatilities on AVIC Fund and Ming Yang 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 Ming Yang. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Ming Yang.
Diversification Opportunities for AVIC Fund and Ming Yang
Very weak diversification
The 3 months correlation between AVIC and Ming is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Ming Yang Smart in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ming Yang Smart 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 Ming Yang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ming Yang Smart has no effect on the direction of AVIC Fund i.e., AVIC Fund and Ming Yang go up and down completely randomly.
Pair Corralation between AVIC Fund and Ming Yang
Assuming the 90 days trading horizon AVIC Fund is expected to generate 9.92 times less return on investment than Ming Yang. But when comparing it to its historical volatility, AVIC Fund Management is 11.4 times less risky than Ming Yang. It trades about 0.33 of its potential returns per unit of risk. Ming Yang Smart is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 1,217 in Ming Yang Smart on September 4, 2024 and sell it today you would earn a total of 251.00 from holding Ming Yang Smart or generate 20.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Ming Yang Smart
Performance |
| Timeline |
| AVIC Fund Management |
| Ming Yang Smart |
AVIC Fund and Ming Yang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Ming Yang
The main advantage of trading using opposite AVIC Fund and Ming Yang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Ming Yang 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 Ming Yang will offset losses from the drop in Ming Yang'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 |
| Ming Yang vs. Quectel Wireless Solutions | Ming Yang vs. Bus Online Co | Ming Yang vs. Sanbo Hospital Management | Ming Yang 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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