Correlation Between AVIC Fund and Jiangxi JDL
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By analyzing existing cross correlation between AVIC Fund Management and Jiangxi JDL Environmental, you can compare the effects of market volatilities on AVIC Fund and Jiangxi JDL 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 Jiangxi JDL. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Jiangxi JDL.
Diversification Opportunities for AVIC Fund and Jiangxi JDL
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AVIC and Jiangxi is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Jiangxi JDL Environmental in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi JDL Environmental 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 Jiangxi JDL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi JDL Environmental has no effect on the direction of AVIC Fund i.e., AVIC Fund and Jiangxi JDL go up and down completely randomly.
Pair Corralation between AVIC Fund and Jiangxi JDL
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.59 times more return on investment than Jiangxi JDL. However, AVIC Fund Management is 1.7 times less risky than Jiangxi JDL. It trades about 0.19 of its potential returns per unit of risk. Jiangxi JDL Environmental is currently generating about -0.19 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 | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Jiangxi JDL Environmental
Performance |
| Timeline |
| AVIC Fund Management |
| Jiangxi JDL Environmental |
AVIC Fund and Jiangxi JDL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Jiangxi JDL
The main advantage of trading using opposite AVIC Fund and Jiangxi JDL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Jiangxi JDL 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 Jiangxi JDL will offset losses from the drop in Jiangxi JDL'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 |
| Jiangxi JDL vs. Kweichow Moutai Co | Jiangxi JDL vs. Contemporary Amperex Technology | Jiangxi JDL vs. Beijing Roborock Technology | Jiangxi JDL vs. BYD Co Ltd |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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