Correlation Between CSSC Offshore and AeroVironment
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By analyzing existing cross correlation between CSSC Offshore Marine and AeroVironment, you can compare the effects of market volatilities on CSSC Offshore and AeroVironment 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 CSSC Offshore with a short position of AeroVironment. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and AeroVironment.
Diversification Opportunities for CSSC Offshore and AeroVironment
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CSSC and AeroVironment is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and AeroVironment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AeroVironment and CSSC Offshore 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 CSSC Offshore Marine are associated (or correlated) with AeroVironment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AeroVironment has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and AeroVironment go up and down completely randomly.
Pair Corralation between CSSC Offshore and AeroVironment
Assuming the 90 days trading horizon CSSC Offshore is expected to generate 1.52 times less return on investment than AeroVironment. But when comparing it to its historical volatility, CSSC Offshore Marine is 1.2 times less risky than AeroVironment. It trades about 0.08 of its potential returns per unit of risk. AeroVironment is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 22,608 in AeroVironment on September 5, 2025 and sell it today you would earn a total of 4,570 from holding AeroVironment or generate 20.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.06% |
| Values | Daily Returns |
CSSC Offshore Marine vs. AeroVironment
Performance |
| Timeline |
| CSSC Offshore Marine |
| AeroVironment |
CSSC Offshore and AeroVironment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSSC Offshore and AeroVironment
The main advantage of trading using opposite CSSC Offshore and AeroVironment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, AeroVironment 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 AeroVironment will offset losses from the drop in AeroVironment's long position.| CSSC Offshore vs. Zhejiang Zhengguang Industrial | CSSC Offshore vs. Zijin Mining Group | CSSC Offshore vs. Suzhou Industrial Park | CSSC Offshore vs. Tongling Nonferrous Metals |
| AeroVironment vs. Hooker Furniture | AeroVironment vs. Baristas Coffee | AeroVironment vs. TRI Pointe Homes | AeroVironment vs. Westrock Coffee |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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