Correlation Between Suzhou Mingzhi and AVIC Fund
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By analyzing existing cross correlation between Suzhou Mingzhi Technology and AVIC Fund Management, you can compare the effects of market volatilities on Suzhou Mingzhi 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 Suzhou Mingzhi with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Mingzhi and AVIC Fund.
Diversification Opportunities for Suzhou Mingzhi and AVIC Fund
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Suzhou and AVIC is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Mingzhi Technology 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 Suzhou Mingzhi 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 Suzhou Mingzhi Technology 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 Suzhou Mingzhi i.e., Suzhou Mingzhi and AVIC Fund go up and down completely randomly.
Pair Corralation between Suzhou Mingzhi and AVIC Fund
Assuming the 90 days trading horizon Suzhou Mingzhi Technology is expected to generate 7.69 times more return on investment than AVIC Fund. However, Suzhou Mingzhi is 7.69 times more volatile than AVIC Fund Management. It trades about 0.07 of its potential returns per unit of risk. AVIC Fund Management is currently generating about 0.15 per unit of risk. If you would invest 1,458 in Suzhou Mingzhi Technology on August 29, 2024 and sell it today you would earn a total of 352.00 from holding Suzhou Mingzhi Technology or generate 24.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Mingzhi Technology vs. AVIC Fund Management
Performance |
| Timeline |
| Suzhou Mingzhi Technology |
| AVIC Fund Management |
Suzhou Mingzhi and AVIC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Mingzhi and AVIC Fund
The main advantage of trading using opposite Suzhou Mingzhi and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Mingzhi 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.| Suzhou Mingzhi vs. Epoxy Base Electronic | Suzhou Mingzhi vs. Nantong Haixing Electronics | Suzhou Mingzhi vs. China Life Insurance | Suzhou Mingzhi vs. Hangzhou Weiguang Electronic |
| 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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