Correlation Between Industrial and AVIC Fund
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By analyzing existing cross correlation between Industrial and Commercial and AVIC Fund Management, you can compare the effects of market volatilities on Industrial and AVIC 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 Industrial with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Industrial and AVIC Fund.
Diversification Opportunities for Industrial and AVIC Fund
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Industrial and AVIC is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Industrial and Commercial and AVIC Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVIC Fund Management and Industrial 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 Industrial and Commercial are associated (or correlated) with AVIC Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVIC Fund Management has no effect on the direction of Industrial i.e., Industrial and AVIC Fund go up and down completely randomly.
Pair Corralation between Industrial and AVIC Fund
Assuming the 90 days trading horizon Industrial is expected to generate 21.58 times less return on investment than AVIC Fund. In addition to that, Industrial is 3.62 times more volatile than AVIC Fund Management. It trades about 0.0 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.34 per unit of volatility. If you would invest 988.00 in AVIC Fund Management on August 28, 2024 and sell it today you would earn a total of 18.00 from holding AVIC Fund Management or generate 1.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Industrial and Commercial vs. AVIC Fund Management
Performance |
| Timeline |
| Industrial and Commercial |
| AVIC Fund Management |
Industrial and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Industrial and AVIC Fund
The main advantage of trading using opposite Industrial and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Industrial position performs unexpectedly, AVIC 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 AVIC Fund will offset losses from the drop in AVIC Fund's long position.| Industrial vs. MayAir Technology Co | Industrial vs. Hubei Yingtong Telecommunication | Industrial vs. Jilin Jlu Communication | Industrial vs. Eastern Communications Co |
| AVIC Fund vs. Industrial and Commercial | AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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