Correlation Between AVIC Fund and Andon Health
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By analyzing existing cross correlation between AVIC Fund Management and Andon Health Co, you can compare the effects of market volatilities on AVIC Fund and Andon Health 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 Andon Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and Andon Health.
Diversification Opportunities for AVIC Fund and Andon Health
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between AVIC and Andon is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and Andon Health Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Andon Health 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 Andon Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Andon Health has no effect on the direction of AVIC Fund i.e., AVIC Fund and Andon Health go up and down completely randomly.
Pair Corralation between AVIC Fund and Andon Health
Assuming the 90 days trading horizon AVIC Fund Management is expected to generate 0.17 times more return on investment than Andon Health. However, AVIC Fund Management is 5.88 times less risky than Andon Health. It trades about 0.34 of its potential returns per unit of risk. Andon Health Co is currently generating about -0.07 per unit of risk. If you would invest 977.00 in AVIC Fund Management on September 28, 2024 and sell it today you would earn a total of 82.00 from holding AVIC Fund Management or generate 8.39% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.33% |
Values | Daily Returns |
AVIC Fund Management vs. Andon Health Co
Performance |
Timeline |
AVIC Fund Management |
Andon Health |
AVIC Fund and Andon Health Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AVIC Fund and Andon Health
The main advantage of trading using opposite AVIC Fund and Andon Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, Andon Health 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 Andon Health will offset losses from the drop in Andon Health's long position.AVIC Fund vs. Kunshan Guoli Electronic | AVIC Fund vs. YiDong Electronics Technology | AVIC Fund vs. Eyebright Medical Technology | AVIC Fund vs. Unigroup Guoxin Microelectronics |
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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