Correlation Between Easyhome New and CICC Fund
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By analyzing existing cross correlation between Easyhome New Retail and CICC Fund Management, you can compare the effects of market volatilities on Easyhome New and CICC Fund 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 Easyhome New with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and CICC Fund.
Diversification Opportunities for Easyhome New and CICC Fund
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Easyhome and CICC is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and CICC Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CICC Fund Management and Easyhome New 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 Easyhome New Retail are associated (or correlated) with CICC Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CICC Fund Management has no effect on the direction of Easyhome New i.e., Easyhome New and CICC Fund go up and down completely randomly.
Pair Corralation between Easyhome New and CICC Fund
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the CICC Fund. In addition to that, Easyhome New is 6.58 times more volatile than CICC Fund Management. It trades about -0.09 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.22 per unit of volatility. If you would invest 379.00 in CICC Fund Management on November 3, 2024 and sell it today you would earn a total of 11.00 from holding CICC Fund Management or generate 2.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. CICC Fund Management
Performance |
| Timeline |
| Easyhome New Retail |
| CICC Fund Management |
Easyhome New and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and CICC Fund
The main advantage of trading using opposite Easyhome New and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, CICC Fund 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 CICC Fund will offset losses from the drop in CICC Fund's long position.| Easyhome New vs. Xinjiang Communications Construction | Easyhome New vs. Runjian Communication Co | Easyhome New vs. Jinhui Liquor Co | Easyhome New vs. Maxvision Technology Corp |
| CICC Fund vs. Industrial and Commercial | CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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