Correlation Between China Mobile and Huaxia Fund
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By analyzing existing cross correlation between China Mobile Limited and Huaxia Fund Management, you can compare the effects of market volatilities on China Mobile and Huaxia Fund 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 China Mobile with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Mobile and Huaxia Fund.
Diversification Opportunities for China Mobile and Huaxia Fund
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between China and Huaxia is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile Limited and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management and China Mobile 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 China Mobile Limited are associated (or correlated) with Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of China Mobile i.e., China Mobile and Huaxia Fund go up and down completely randomly.
Pair Corralation between China Mobile and Huaxia Fund
Assuming the 90 days trading horizon China Mobile Limited is expected to under-perform the Huaxia Fund. In addition to that, China Mobile is 1.03 times more volatile than Huaxia Fund Management. It trades about -0.2 of its total potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.26 per unit of volatility. If you would invest 288.00 in Huaxia Fund Management on October 23, 2024 and sell it today you would earn a total of 17.00 from holding Huaxia Fund Management or generate 5.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Mobile Limited vs. Huaxia Fund Management
Performance |
| Timeline |
| China Mobile Limited |
| Huaxia Fund Management |
China Mobile and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Mobile and Huaxia Fund
The main advantage of trading using opposite China Mobile and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Mobile position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| China Mobile vs. Uroica Mining Safety | China Mobile vs. Fujian Oriental Silver | China Mobile vs. Jinhui Mining Co | China Mobile vs. JCHX Mining Management |
| Huaxia Fund vs. Industrial and Commercial | Huaxia Fund vs. Kweichow Moutai Co | Huaxia Fund vs. Agricultural Bank of | Huaxia Fund vs. China Mobile Limited |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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