Correlation Between Hangzhou Huawang and AVIC Fund
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By analyzing existing cross correlation between Hangzhou Huawang New and AVIC Fund Management, you can compare the effects of market volatilities on Hangzhou Huawang 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 Hangzhou Huawang with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Huawang and AVIC Fund.
Diversification Opportunities for Hangzhou Huawang and AVIC Fund
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Hangzhou and AVIC is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Huawang New 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 Hangzhou Huawang 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 Hangzhou Huawang New 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 Hangzhou Huawang i.e., Hangzhou Huawang and AVIC Fund go up and down completely randomly.
Pair Corralation between Hangzhou Huawang and AVIC Fund
Assuming the 90 days trading horizon Hangzhou Huawang is expected to generate 1.95 times less return on investment than AVIC Fund. In addition to that, Hangzhou Huawang is 2.79 times more volatile than AVIC Fund Management. It trades about 0.01 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.07 per unit of volatility. If you would invest 828.00 in AVIC Fund Management on August 29, 2024 and sell it today you would earn a total of 177.00 from holding AVIC Fund Management or generate 21.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hangzhou Huawang New vs. AVIC Fund Management
Performance |
| Timeline |
| Hangzhou Huawang New |
| AVIC Fund Management |
Hangzhou Huawang and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Huawang and AVIC Fund
The main advantage of trading using opposite Hangzhou Huawang and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Huawang 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.| Hangzhou Huawang vs. Zijin Mining Group | Hangzhou Huawang vs. Wanhua Chemical Group | Hangzhou Huawang vs. Baoshan Iron Steel | Hangzhou Huawang vs. Shandong Gold Mining |
| AVIC Fund vs. Suzhou Mingzhi Technology | AVIC Fund vs. Ningbo Tech Bank Co | AVIC Fund vs. GRG Banking Equipment | AVIC Fund vs. Fujian Newland Computer |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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