Correlation Between AVIC Fund and China International
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By analyzing existing cross correlation between AVIC Fund Management and China International Capital, you can compare the effects of market volatilities on AVIC Fund and China International 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 China International. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and China International.
Diversification Opportunities for AVIC Fund and China International
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between AVIC and China is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and China International Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China International 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 China International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China International has no effect on the direction of AVIC Fund i.e., AVIC Fund and China International go up and down completely randomly.
Pair Corralation between AVIC Fund and China International
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.08 times more return on investment than China International. However, AVIC Fund Management is 12.32 times less risky than China International. It trades about 0.21 of its potential returns per unit of risk. China International Capital is currently generating about -0.04 per unit of risk. If you would invest 977.00 in AVIC Fund Management on August 31, 2024 and sell it today you would earn a total of 26.00 from holding AVIC Fund Management or generate 2.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. China International Capital
Performance |
| Timeline |
| AVIC Fund Management |
| China International |
AVIC Fund and China International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and China International
The main advantage of trading using opposite AVIC Fund and China International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, China International 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 China International will offset losses from the drop in China International'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 |
| China International vs. Innovative Medical Management | China International vs. AVIC Fund Management | China International vs. Humanwell Healthcare Group | China International vs. Anhui Huaren Health |
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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