Correlation Between AVIC Fund and Beijing Shanghai
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By analyzing existing cross correlation between AVIC Fund Management and Beijing Shanghai High Speed, you can compare the effects of market volatilities on AVIC Fund and Beijing Shanghai 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 Shanghai. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Beijing Shanghai.
Diversification Opportunities for AVIC Fund and Beijing Shanghai
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between AVIC and Beijing is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Beijing Shanghai High Speed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Shanghai High 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 Shanghai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Shanghai High has no effect on the direction of AVIC Fund i.e., AVIC Fund and Beijing Shanghai go up and down completely randomly.
Pair Corralation between AVIC Fund and Beijing Shanghai
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.75 times more return on investment than Beijing Shanghai. However, AVIC Fund Management is 1.33 times less risky than Beijing Shanghai. It trades about 0.23 of its potential returns per unit of risk. Beijing Shanghai High Speed is currently generating about -0.32 per unit of risk. If you would invest 1,067 in AVIC Fund Management on November 2, 2024 and sell it today you would earn a total of 32.00 from holding AVIC Fund Management or generate 3.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Beijing Shanghai High Speed
Performance |
| Timeline |
| AVIC Fund Management |
| Beijing Shanghai High |
AVIC Fund and Beijing Shanghai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Beijing Shanghai
The main advantage of trading using opposite AVIC Fund and Beijing Shanghai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Beijing Shanghai 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 Shanghai will offset losses from the drop in Beijing Shanghai'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 |
| Beijing Shanghai vs. Zhongrun Resources Investment | Beijing Shanghai vs. Hunan Investment Group | Beijing Shanghai vs. Chengdu Xingrong Investment | Beijing Shanghai vs. Nuode Investment Co |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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