Correlation Between AVIC Fund and Jiangsu Flowers
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By analyzing existing cross correlation between AVIC Fund Management and Jiangsu Flowers King, you can compare the effects of market volatilities on AVIC Fund and Jiangsu Flowers 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 Jiangsu Flowers. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Jiangsu Flowers.
Diversification Opportunities for AVIC Fund and Jiangsu Flowers
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between AVIC and Jiangsu is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Jiangsu Flowers King in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Flowers King 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 Jiangsu Flowers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Flowers King has no effect on the direction of AVIC Fund i.e., AVIC Fund and Jiangsu Flowers go up and down completely randomly.
Pair Corralation between AVIC Fund and Jiangsu Flowers
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.08 times more return on investment than Jiangsu Flowers. However, AVIC Fund Management is 12.26 times less risky than Jiangsu Flowers. It trades about 0.19 of its potential returns per unit of risk. Jiangsu Flowers King is currently generating about -0.02 per unit of risk. If you would invest 1,050 in AVIC Fund Management on October 25, 2024 and sell it today you would earn a total of 30.00 from holding AVIC Fund Management or generate 2.86% 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. Jiangsu Flowers King
Performance |
| Timeline |
| AVIC Fund Management |
| Jiangsu Flowers King |
AVIC Fund and Jiangsu Flowers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Jiangsu Flowers
The main advantage of trading using opposite AVIC Fund and Jiangsu Flowers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Jiangsu Flowers 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 Jiangsu Flowers will offset losses from the drop in Jiangsu Flowers' 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 |
| Jiangsu Flowers vs. Servyou Software Group | Jiangsu Flowers vs. Guotai Epoint Software | Jiangsu Flowers vs. Linewell Software Co | Jiangsu Flowers vs. China Building Material |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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