Correlation Between Dezhan HealthCare and CICC Fund
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By analyzing existing cross correlation between Dezhan HealthCare Co and CICC Fund Management, you can compare the effects of market volatilities on Dezhan HealthCare 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 Dezhan HealthCare with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dezhan HealthCare and CICC Fund.
Diversification Opportunities for Dezhan HealthCare and CICC Fund
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Dezhan and CICC is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Dezhan HealthCare Co 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 Dezhan HealthCare 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 Dezhan HealthCare Co 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 Dezhan HealthCare i.e., Dezhan HealthCare and CICC Fund go up and down completely randomly.
Pair Corralation between Dezhan HealthCare and CICC Fund
Assuming the 90 days trading horizon Dezhan HealthCare Co is expected to under-perform the CICC Fund. In addition to that, Dezhan HealthCare is 3.49 times more volatile than CICC Fund Management. It trades about 0.0 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.08 per unit of volatility. If you would invest 282.00 in CICC Fund Management on November 2, 2024 and sell it today you would earn a total of 108.00 from holding CICC Fund Management or generate 38.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dezhan HealthCare Co vs. CICC Fund Management
Performance |
| Timeline |
| Dezhan HealthCare |
| CICC Fund Management |
Dezhan HealthCare and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dezhan HealthCare and CICC Fund
The main advantage of trading using opposite Dezhan HealthCare and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dezhan HealthCare 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.| Dezhan HealthCare vs. Sino Platinum Metals Co | Dezhan HealthCare vs. Ningbo Homelink Eco iTech | Dezhan HealthCare vs. Tianshan Aluminum Group | Dezhan HealthCare vs. Quectel Wireless Solutions |
| 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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