Correlation Between Anji Foodstuff and AVIC Fund
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By analyzing existing cross correlation between Anji Foodstuff Co and AVIC Fund Management, you can compare the effects of market volatilities on Anji Foodstuff 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 Anji Foodstuff with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and AVIC Fund.
Diversification Opportunities for Anji Foodstuff and AVIC Fund
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anji and AVIC is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co 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 Anji Foodstuff 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 Anji Foodstuff Co 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 Anji Foodstuff i.e., Anji Foodstuff and AVIC Fund go up and down completely randomly.
Pair Corralation between Anji Foodstuff and AVIC Fund
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to under-perform the AVIC Fund. In addition to that, Anji Foodstuff is 3.83 times more volatile than AVIC Fund Management. It trades about -0.08 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.23 per unit of volatility. If you would invest 1,067 in AVIC Fund Management on November 3, 2024 and sell it today you would earn a total of 32.00 from holding AVIC Fund Management or generate 3.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. AVIC Fund Management
Performance |
| Timeline |
| Anji Foodstuff |
| AVIC Fund Management |
Anji Foodstuff and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and AVIC Fund
The main advantage of trading using opposite Anji Foodstuff and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff 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.| Anji Foodstuff vs. Beijing Enlight Media | Anji Foodstuff vs. Kingclean Electric Co | Anji Foodstuff vs. Mango Excellent Media | Anji Foodstuff vs. Omnijoi Media Corp |
| AVIC Fund vs. Fujian Wanchen Biotechnology | AVIC Fund vs. Maccura Biotechnology Co | AVIC Fund vs. China Sports Industry | AVIC Fund vs. Ningbo MedicalSystem Biotechnology |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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