Correlation Between AVIC Fund and HanS Laser
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By analyzing existing cross correlation between AVIC Fund Management and HanS Laser Tech, you can compare the effects of market volatilities on AVIC Fund and HanS Laser 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 AVIC Fund with a short position of HanS Laser. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and HanS Laser.
Diversification Opportunities for AVIC Fund and HanS Laser
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AVIC and HanS is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and HanS Laser Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HanS Laser Tech and AVIC Fund 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 AVIC Fund Management are associated (or correlated) with HanS Laser. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HanS Laser Tech has no effect on the direction of AVIC Fund i.e., AVIC Fund and HanS Laser go up and down completely randomly.
Pair Corralation between AVIC Fund and HanS Laser
Assuming the 90 days trading horizon AVIC Fund is expected to generate 1.2 times less return on investment than HanS Laser. But when comparing it to its historical volatility, AVIC Fund Management is 3.52 times less risky than HanS Laser. It trades about 0.08 of its potential returns per unit of risk. HanS Laser Tech is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 2,301 in HanS Laser Tech on September 26, 2024 and sell it today you would earn a total of 298.00 from holding HanS Laser Tech or generate 12.95% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
AVIC Fund Management vs. HanS Laser Tech
Performance |
Timeline |
AVIC Fund Management |
HanS Laser Tech |
AVIC Fund and HanS Laser Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AVIC Fund and HanS Laser
The main advantage of trading using opposite AVIC Fund and HanS Laser positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, HanS Laser 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 HanS Laser will offset losses from the drop in HanS Laser's long position.AVIC Fund vs. Industrial and Commercial | AVIC Fund vs. Kweichow Moutai Co | AVIC Fund vs. Agricultural Bank of | AVIC Fund vs. China Mobile Limited |
HanS Laser vs. Bank of China | HanS Laser vs. Kweichow Moutai Co | HanS Laser vs. PetroChina Co Ltd | HanS Laser vs. Bank of Communications |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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