Correlation Between Imeik Technology and AVIC Fund
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By analyzing existing cross correlation between Imeik Technology Development and AVIC Fund Management, you can compare the effects of market volatilities on Imeik Technology 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 Imeik Technology with a short position of AVIC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imeik Technology and AVIC Fund.
Diversification Opportunities for Imeik Technology and AVIC Fund
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Imeik and AVIC is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Imeik Technology Development 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 Imeik Technology 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 Imeik Technology Development 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 Imeik Technology i.e., Imeik Technology and AVIC Fund go up and down completely randomly.
Pair Corralation between Imeik Technology and AVIC Fund
Assuming the 90 days trading horizon Imeik Technology is expected to generate 2.08 times less return on investment than AVIC Fund. In addition to that, Imeik Technology is 4.9 times more volatile than AVIC Fund Management. It trades about 0.04 of its total potential returns per unit of risk. AVIC Fund Management is currently generating about 0.43 per unit of volatility. If you would invest 1,006 in AVIC Fund Management on September 24, 2024 and sell it today you would earn a total of 42.00 from holding AVIC Fund Management or generate 4.17% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Imeik Technology Development vs. AVIC Fund Management
Performance |
Timeline |
Imeik Technology Dev |
AVIC Fund Management |
Imeik Technology and AVIC Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Imeik Technology and AVIC Fund
The main advantage of trading using opposite Imeik Technology and AVIC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Imeik Technology 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.Imeik Technology vs. AVIC Fund Management | Imeik Technology vs. Guangdong Shenglu Telecommunication | Imeik Technology vs. Shanghai CEO Environmental | Imeik Technology vs. Wintao Communications Co |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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