Correlation Between AVIC Fund and Shanghai CEO
Specify exactly 2 symbols:
By analyzing existing cross correlation between AVIC Fund Management and Shanghai CEO Environmental, you can compare the effects of market volatilities on AVIC Fund and Shanghai CEO 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 Shanghai CEO. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Shanghai CEO.
Diversification Opportunities for AVIC Fund and Shanghai CEO
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AVIC and Shanghai is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Shanghai CEO Environmental in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai CEO Environ 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 Shanghai CEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai CEO Environ has no effect on the direction of AVIC Fund i.e., AVIC Fund and Shanghai CEO go up and down completely randomly.
Pair Corralation between AVIC Fund and Shanghai CEO
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.19 times more return on investment than Shanghai CEO. However, AVIC Fund Management is 5.37 times less risky than Shanghai CEO. It trades about 0.44 of its potential returns per unit of risk. Shanghai CEO Environmental is currently generating about -0.18 per unit of risk. If you would invest 1,006 in AVIC Fund Management on September 24, 2024 and sell it today you would earn a total of 44.00 from holding AVIC Fund Management or generate 4.37% 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. Shanghai CEO Environmental
Performance |
Timeline |
AVIC Fund Management |
Shanghai CEO Environ |
AVIC Fund and Shanghai CEO Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AVIC Fund and Shanghai CEO
The main advantage of trading using opposite AVIC Fund and Shanghai CEO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Shanghai CEO 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 Shanghai CEO will offset losses from the drop in Shanghai CEO's long position.AVIC Fund vs. Chongqing Sulian Plastic | AVIC Fund vs. King Strong New Material | AVIC Fund vs. Elite Color Environmental | AVIC Fund vs. GRIPM Advanced Materials |
Shanghai CEO vs. Shenzhen MYS Environmental | Shanghai CEO vs. AVIC Fund Management | Shanghai CEO vs. Shenzhen Bingchuan Network | Shanghai CEO 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets |