Correlation Between Beijing Bewinner and CICC Fund
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By analyzing existing cross correlation between Beijing Bewinner Communications and CICC Fund Management, you can compare the effects of market volatilities on Beijing Bewinner 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 Beijing Bewinner with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and CICC Fund.
Diversification Opportunities for Beijing Bewinner and CICC Fund
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Beijing and CICC is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication 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 Beijing Bewinner 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 Beijing Bewinner Communications 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 Beijing Bewinner i.e., Beijing Bewinner and CICC Fund go up and down completely randomly.
Pair Corralation between Beijing Bewinner and CICC Fund
Assuming the 90 days trading horizon Beijing Bewinner is expected to generate 1.89 times less return on investment than CICC Fund. In addition to that, Beijing Bewinner is 3.85 times more volatile than CICC Fund Management. It trades about 0.05 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.35 per unit of volatility. If you would invest 327.00 in CICC Fund Management on October 30, 2024 and sell it today you would earn a total of 63.00 from holding CICC Fund Management or generate 19.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Bewinner Communication vs. CICC Fund Management
Performance |
| Timeline |
| Beijing Bewinner Com |
| CICC Fund Management |
Beijing Bewinner and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Bewinner and CICC Fund
The main advantage of trading using opposite Beijing Bewinner and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner 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.| Beijing Bewinner vs. Bosera CMSK Industrial | Beijing Bewinner vs. Western Metal Materials | Beijing Bewinner vs. Pengxin International Mining | Beijing Bewinner vs. Jiangsu Jinling Sports |
| 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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