Correlation Between AVIC Fund and Zhuhai Comleader
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By analyzing existing cross correlation between AVIC Fund Management and Zhuhai Comleader Information, you can compare the effects of market volatilities on AVIC Fund and Zhuhai Comleader 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 Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Zhuhai Comleader.
Diversification Opportunities for AVIC Fund and Zhuhai Comleader
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AVIC and Zhuhai is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf 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 Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of AVIC Fund i.e., AVIC Fund and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between AVIC Fund and Zhuhai Comleader
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.06 times more return on investment than Zhuhai Comleader. However, AVIC Fund Management is 15.62 times less risky than Zhuhai Comleader. It trades about 0.21 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about -0.06 per unit of risk. If you would invest 995.00 in AVIC Fund Management on September 1, 2024 and sell it today you would earn a total of 10.00 from holding AVIC Fund Management or generate 1.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. Zhuhai Comleader Information
Performance |
| Timeline |
| AVIC Fund Management |
| Zhuhai Comleader Inf |
AVIC Fund and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Zhuhai Comleader
The main advantage of trading using opposite AVIC Fund and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader'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 |
| Zhuhai Comleader vs. Sportsoul Co Ltd | Zhuhai Comleader vs. Everdisplay Optronics Shanghai | Zhuhai Comleader vs. Unisplendour Corp | Zhuhai Comleader vs. Ping An Insurance |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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