Correlation Between Shanghai V and AVCON Information
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By analyzing existing cross correlation between Shanghai V Test Semiconductor and AVCON Information Tech, you can compare the effects of market volatilities on Shanghai V and AVCON Information 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 V with a short position of AVCON Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai V and AVCON Information.
Diversification Opportunities for Shanghai V and AVCON Information
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shanghai and AVCON is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai V Test Semiconductor and AVCON Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVCON Information Tech and Shanghai V 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 V Test Semiconductor are associated (or correlated) with AVCON Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVCON Information Tech has no effect on the direction of Shanghai V i.e., Shanghai V and AVCON Information go up and down completely randomly.
Pair Corralation between Shanghai V and AVCON Information
Assuming the 90 days trading horizon Shanghai V Test Semiconductor is expected to under-perform the AVCON Information. In addition to that, Shanghai V is 1.14 times more volatile than AVCON Information Tech. It trades about 0.0 of its total potential returns per unit of risk. AVCON Information Tech is currently generating about 0.01 per unit of volatility. If you would invest 399.00 in AVCON Information Tech on October 16, 2024 and sell it today you would lose (34.00) from holding AVCON Information Tech or give up 8.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai V Test Semiconductor vs. AVCON Information Tech
Performance |
| Timeline |
| Shanghai V Test |
| AVCON Information Tech |
Shanghai V and AVCON Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai V and AVCON Information
The main advantage of trading using opposite Shanghai V and AVCON Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai V position performs unexpectedly, AVCON Information 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 AVCON Information will offset losses from the drop in AVCON Information's long position.| Shanghai V vs. Henan Shuanghui Investment | Shanghai V vs. Anhui Jianghuai Automobile | Shanghai V vs. Guangxi Wuzhou Communications | Shanghai V vs. Haima Automobile Group |
| AVCON Information vs. GRINM Semiconductor Materials | AVCON Information vs. Ye Chiu Metal | AVCON Information vs. Semiconductor Manufacturing Intl | AVCON Information vs. Shanghai V Test Semiconductor |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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