Correlation Between AVIC Fund and China CYTS
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By analyzing existing cross correlation between AVIC Fund Management and China CYTS Tours, you can compare the effects of market volatilities on AVIC Fund and China CYTS 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 China CYTS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and China CYTS.
Diversification Opportunities for AVIC Fund and China CYTS
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between AVIC and China is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and China CYTS Tours in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China CYTS Tours 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 China CYTS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China CYTS Tours has no effect on the direction of AVIC Fund i.e., AVIC Fund and China CYTS go up and down completely randomly.
Pair Corralation between AVIC Fund and China CYTS
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.75 times more return on investment than China CYTS. However, AVIC Fund Management is 1.33 times less risky than China CYTS. It trades about 0.25 of its potential returns per unit of risk. China CYTS Tours is currently generating about 0.04 per unit of risk. If you would invest 1,050 in AVIC Fund Management on December 24, 2024 and sell it today you would earn a total of 154.00 from holding AVIC Fund Management or generate 14.67% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
AVIC Fund Management vs. China CYTS Tours
Performance |
Timeline |
AVIC Fund Management |
China CYTS Tours |
AVIC Fund and China CYTS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AVIC Fund and China CYTS
The main advantage of trading using opposite AVIC Fund and China CYTS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, China CYTS 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 China CYTS will offset losses from the drop in China CYTS's long position.AVIC Fund vs. HUAQIN TECHNOLOGY LTD | AVIC Fund vs. Jiujiang Shanshui Technology | AVIC Fund vs. Shandong Mining Machinery | AVIC Fund vs. Inner Mongolia Xingye |
China CYTS vs. Shenzhen SDG Information | China CYTS vs. Sino Medical Sciences | China CYTS vs. HengFeng Information Technology | China CYTS vs. ButOne Information Corp |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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