Correlation Between Gansu Huangtai and CICC Fund
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By analyzing existing cross correlation between Gansu Huangtai Wine marketing and CICC Fund Management, you can compare the effects of market volatilities on Gansu Huangtai 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 Gansu Huangtai with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gansu Huangtai and CICC Fund.
Diversification Opportunities for Gansu Huangtai and CICC Fund
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Gansu and CICC is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Gansu Huangtai Wine marketing 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 Gansu Huangtai 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 Gansu Huangtai Wine marketing 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 Gansu Huangtai i.e., Gansu Huangtai and CICC Fund go up and down completely randomly.
Pair Corralation between Gansu Huangtai and CICC Fund
Assuming the 90 days trading horizon Gansu Huangtai is expected to generate 2.98 times less return on investment than CICC Fund. In addition to that, Gansu Huangtai is 4.25 times more volatile than CICC Fund Management. It trades about 0.01 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.1 per unit of volatility. If you would invest 250.00 in CICC Fund Management on September 1, 2024 and sell it today you would earn a total of 77.00 from holding CICC Fund Management or generate 30.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gansu Huangtai Wine marketing vs. CICC Fund Management
Performance |
| Timeline |
| Gansu Huangtai Wine |
| CICC Fund Management |
Gansu Huangtai and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gansu Huangtai and CICC Fund
The main advantage of trading using opposite Gansu Huangtai and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gansu Huangtai 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.| Gansu Huangtai vs. Shandong Polymer Biochemicals | Gansu Huangtai vs. Ningxia Younglight Chemicals | Gansu Huangtai vs. Huatian Hotel Group | Gansu Huangtai vs. Xiandai Investment Co |
| 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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