Correlation Between AVIC Fund and Guangdong Marubi
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By analyzing existing cross correlation between AVIC Fund Management and Guangdong Marubi Biotechnology, you can compare the effects of market volatilities on AVIC Fund and Guangdong Marubi 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 Guangdong Marubi. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Guangdong Marubi.
Diversification Opportunities for AVIC Fund and Guangdong Marubi
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AVIC and Guangdong is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Guangdong Marubi Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong Marubi Bio 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 Guangdong Marubi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong Marubi Bio has no effect on the direction of AVIC Fund i.e., AVIC Fund and Guangdong Marubi go up and down completely randomly.
Pair Corralation between AVIC Fund and Guangdong Marubi
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.31 times more return on investment than Guangdong Marubi. However, AVIC Fund Management is 3.27 times less risky than Guangdong Marubi. It trades about 0.34 of its potential returns per unit of risk. Guangdong Marubi Biotechnology is currently generating about 0.0 per unit of risk. If you would invest 1,049 in AVIC Fund Management on October 30, 2024 and sell it today you would earn a total of 50.00 from holding AVIC Fund Management or generate 4.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Guangdong Marubi Biotechnology
Performance |
| Timeline |
| AVIC Fund Management |
| Guangdong Marubi Bio |
AVIC Fund and Guangdong Marubi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Guangdong Marubi
The main advantage of trading using opposite AVIC Fund and Guangdong Marubi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Guangdong Marubi 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 Guangdong Marubi will offset losses from the drop in Guangdong Marubi'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 |
| Guangdong Marubi vs. BrightGene Bio Medical | Guangdong Marubi vs. Beijing Kingsoft Office | Guangdong Marubi vs. Chison Medical Technologies | Guangdong Marubi vs. Allmed Medical Products |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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