Correlation Between Harvest Fund and China Vanke
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By analyzing existing cross correlation between Harvest Fund Management and China Vanke Co, you can compare the effects of market volatilities on Harvest Fund and China Vanke 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 Harvest Fund with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and China Vanke.
Diversification Opportunities for Harvest Fund and China Vanke
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Harvest and China is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and Harvest 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 Harvest Fund Management are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of Harvest Fund i.e., Harvest Fund and China Vanke go up and down completely randomly.
Pair Corralation between Harvest Fund and China Vanke
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.33 times more return on investment than China Vanke. However, Harvest Fund Management is 3.04 times less risky than China Vanke. It trades about 0.23 of its potential returns per unit of risk. China Vanke Co is currently generating about -0.17 per unit of risk. If you would invest 258.00 in Harvest Fund Management on September 15, 2024 and sell it today you would earn a total of 7.00 from holding Harvest Fund Management or generate 2.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. China Vanke Co
Performance |
| Timeline |
| Harvest Fund Management |
| China Vanke |
Harvest Fund and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and China Vanke
The main advantage of trading using opposite Harvest Fund and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| Harvest Fund vs. Miracll Chemicals Co | Harvest Fund vs. Do Fluoride Chemicals Co | Harvest Fund vs. Jilin Jlu Communication | Harvest Fund vs. XinJiang GuoTong Pipeline |
| China Vanke vs. AVIC Fund Management | China Vanke vs. China Asset Management | China Vanke vs. Dazhong Transportation Group | China Vanke vs. Harvest Fund Management |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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