Correlation Between Shanghai CEO and AVIC Fund
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By analyzing existing cross correlation between Shanghai CEO Environmental and AVIC Fund Management, you can compare the effects of market volatilities on Shanghai CEO 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 Shanghai CEO with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai CEO and AVIC Fund.
Diversification Opportunities for Shanghai CEO and AVIC Fund
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Shanghai and AVIC is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai CEO Environmental 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 Shanghai CEO 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 Shanghai CEO Environmental 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 Shanghai CEO i.e., Shanghai CEO and AVIC Fund go up and down completely randomly.
Pair Corralation between Shanghai CEO and AVIC Fund
Assuming the 90 days trading horizon Shanghai CEO Environmental is expected to generate 64.63 times more return on investment than AVIC Fund. However, Shanghai CEO is 64.63 times more volatile than AVIC Fund Management. It trades about 0.04 of its potential returns per unit of risk. AVIC Fund Management is currently generating about 0.07 per unit of risk. If you would invest 2,287 in Shanghai CEO Environmental on October 19, 2024 and sell it today you would lose (1,434) from holding Shanghai CEO Environmental or give up 62.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 91.29% |
| Values | Daily Returns |
Shanghai CEO Environmental vs. AVIC Fund Management
Performance |
| Timeline |
| Shanghai CEO Environ |
| AVIC Fund Management |
Shanghai CEO and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai CEO and AVIC Fund
The main advantage of trading using opposite Shanghai CEO and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai CEO 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.| Shanghai CEO vs. Jahen Household Products | Shanghai CEO vs. Sanxiang Advanced Materials | Shanghai CEO vs. Jiahe Foods Industry | Shanghai CEO vs. Jiajia Food Group |
| AVIC Fund vs. Digiwin Software Co | AVIC Fund vs. Linewell Software Co | AVIC Fund vs. Servyou Software Group | AVIC Fund vs. Thunder Software Technology |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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