Correlation Between AVIC Fund and Niutech Environment
Specify exactly 2 symbols:
By analyzing existing cross correlation between AVIC Fund Management and Niutech Environment Technology, you can compare the effects of market volatilities on AVIC Fund and Niutech Environment 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 Niutech Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Niutech Environment.
Diversification Opportunities for AVIC Fund and Niutech Environment
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AVIC and Niutech is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Niutech Environment Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Niutech Environment 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 Niutech Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Niutech Environment has no effect on the direction of AVIC Fund i.e., AVIC Fund and Niutech Environment go up and down completely randomly.
Pair Corralation between AVIC Fund and Niutech Environment
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.23 times more return on investment than Niutech Environment. However, AVIC Fund Management is 4.33 times less risky than Niutech Environment. It trades about 0.08 of its potential returns per unit of risk. Niutech Environment Technology is currently generating about -0.03 per unit of risk. If you would invest 838.00 in AVIC Fund Management on September 25, 2024 and sell it today you would earn a total of 212.00 from holding AVIC Fund Management or generate 25.3% 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. Niutech Environment Technology
Performance |
Timeline |
AVIC Fund Management |
Niutech Environment |
AVIC Fund and Niutech Environment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AVIC Fund and Niutech Environment
The main advantage of trading using opposite AVIC Fund and Niutech Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Niutech Environment 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 Niutech Environment will offset losses from the drop in Niutech Environment'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 |
Niutech Environment vs. Shenzhen MYS Environmental | Niutech Environment vs. AVIC Fund Management | Niutech Environment vs. Shenzhen Bingchuan Network | Niutech Environment vs. Penghua Shenzhen Energy |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Other Complementary Tools
Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Share Portfolio Track or share privately all of your investments from the convenience of any device | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |