Correlation Between AVIC Fund and Uxi Unicomp
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By analyzing existing cross correlation between AVIC Fund Management and Uxi Unicomp Technology, you can compare the effects of market volatilities on AVIC Fund and Uxi Unicomp 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 Uxi Unicomp. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Uxi Unicomp.
Diversification Opportunities for AVIC Fund and Uxi Unicomp
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AVIC and Uxi is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Uxi Unicomp Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Uxi Unicomp Technology 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 Uxi Unicomp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Uxi Unicomp Technology has no effect on the direction of AVIC Fund i.e., AVIC Fund and Uxi Unicomp go up and down completely randomly.
Pair Corralation between AVIC Fund and Uxi Unicomp
Assuming the 90 days trading horizon AVIC Fund is expected to generate 68.69 times less return on investment than Uxi Unicomp. But when comparing it to its historical volatility, AVIC Fund Management is 4.52 times less risky than Uxi Unicomp. It trades about 0.02 of its potential returns per unit of risk. Uxi Unicomp Technology is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest 4,545 in Uxi Unicomp Technology on November 5, 2024 and sell it today you would earn a total of 662.00 from holding Uxi Unicomp Technology or generate 14.57% 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. Uxi Unicomp Technology
Performance |
| Timeline |
| AVIC Fund Management |
| Uxi Unicomp Technology |
AVIC Fund and Uxi Unicomp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and Uxi Unicomp
The main advantage of trading using opposite AVIC Fund and Uxi Unicomp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Uxi Unicomp 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 Uxi Unicomp will offset losses from the drop in Uxi Unicomp's long position.| AVIC Fund vs. Jahen Household Products | AVIC Fund vs. Ningbo Ligong Online | AVIC Fund vs. Weihai Honglin Electronic | AVIC Fund vs. Fuzhou Rockchip Electronics |
| Uxi Unicomp vs. Guangzhou Zhujiang Brewery | Uxi Unicomp vs. Luyin Investment Group | Uxi Unicomp vs. Beijing Yanjing Brewery | Uxi Unicomp vs. Chengdu Xingrong Investment |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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