Correlation Between AVIC Fund and JCHX Mining
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By analyzing existing cross correlation between AVIC Fund Management and JCHX Mining Management, you can compare the effects of market volatilities on AVIC Fund and JCHX Mining 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 JCHX Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and JCHX Mining.
Diversification Opportunities for AVIC Fund and JCHX Mining
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AVIC and JCHX is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and JCHX Mining Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JCHX Mining Management 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 JCHX Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JCHX Mining Management has no effect on the direction of AVIC Fund i.e., AVIC Fund and JCHX Mining go up and down completely randomly.
Pair Corralation between AVIC Fund and JCHX Mining
Assuming the 90 days trading horizon AVIC Fund is expected to generate 3.05 times less return on investment than JCHX Mining. But when comparing it to its historical volatility, AVIC Fund Management is 3.28 times less risky than JCHX Mining. It trades about 0.05 of its potential returns per unit of risk. JCHX Mining Management is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,747 in JCHX Mining Management on August 25, 2024 and sell it today you would earn a total of 1,243 from holding JCHX Mining Management or generate 45.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 84.1% |
| Values | Daily Returns |
AVIC Fund Management vs. JCHX Mining Management
Performance |
| Timeline |
| AVIC Fund Management |
| JCHX Mining Management |
AVIC Fund and JCHX Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and JCHX Mining
The main advantage of trading using opposite AVIC Fund and JCHX Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, JCHX Mining 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 JCHX Mining will offset losses from the drop in JCHX Mining's long position.| AVIC Fund vs. Guangzhou Automobile Group | AVIC Fund vs. Weichai Heavy Machinery | AVIC Fund vs. Anhui Huilong Agricultural | AVIC Fund vs. Haima Automobile Group |
| JCHX Mining vs. Chinese Universe Publishing | JCHX Mining vs. Kuangda Technology Group | JCHX Mining vs. Sinofibers Technology Co | JCHX Mining vs. Shandong Publishing Media |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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