Correlation Between Vanfund Urban and CIMC Vehicles
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By analyzing existing cross correlation between Vanfund Urban Investment and CIMC Vehicles Co, you can compare the effects of market volatilities on Vanfund Urban and CIMC Vehicles 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 Vanfund Urban with a short position of CIMC Vehicles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and CIMC Vehicles.
Diversification Opportunities for Vanfund Urban and CIMC Vehicles
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Vanfund and CIMC is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and CIMC Vehicles Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CIMC Vehicles and Vanfund Urban 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 Vanfund Urban Investment are associated (or correlated) with CIMC Vehicles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CIMC Vehicles has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and CIMC Vehicles go up and down completely randomly.
Pair Corralation between Vanfund Urban and CIMC Vehicles
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to generate 2.81 times more return on investment than CIMC Vehicles. However, Vanfund Urban is 2.81 times more volatile than CIMC Vehicles Co. It trades about 0.13 of its potential returns per unit of risk. CIMC Vehicles Co is currently generating about 0.21 per unit of risk. If you would invest 464.00 in Vanfund Urban Investment on November 2, 2024 and sell it today you would earn a total of 30.00 from holding Vanfund Urban Investment or generate 6.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. CIMC Vehicles Co
Performance |
| Timeline |
| Vanfund Urban Investment |
| CIMC Vehicles |
Vanfund Urban and CIMC Vehicles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and CIMC Vehicles
The main advantage of trading using opposite Vanfund Urban and CIMC Vehicles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, CIMC Vehicles 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 CIMC Vehicles will offset losses from the drop in CIMC Vehicles' long position.| Vanfund Urban vs. Shandong Sinoglory Health | Vanfund Urban vs. Harvest Fund Management | Vanfund Urban vs. Sanbo Hospital Management | Vanfund Urban vs. De Rucci Healthy |
| CIMC Vehicles vs. Linktel Technologies Co | CIMC Vehicles vs. Kunwu Jiuding Investment | CIMC Vehicles vs. Xiamen Insight Investment | CIMC Vehicles vs. Zhejiang Construction Investment |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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