Correlation Between Guangdong Jingyi and Cicc Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Guangdong Jingyi Metal and Cicc Fund Management, you can compare the effects of market volatilities on Guangdong Jingyi 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 Guangdong Jingyi with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangdong Jingyi and Cicc Fund.
Diversification Opportunities for Guangdong Jingyi and Cicc Fund
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guangdong and Cicc is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Guangdong Jingyi Metal 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 Guangdong Jingyi 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 Guangdong Jingyi Metal 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 Guangdong Jingyi i.e., Guangdong Jingyi and Cicc Fund go up and down completely randomly.
Pair Corralation between Guangdong Jingyi and Cicc Fund
Assuming the 90 days trading horizon Guangdong Jingyi Metal is expected to generate 4.69 times more return on investment than Cicc Fund. However, Guangdong Jingyi is 4.69 times more volatile than Cicc Fund Management. It trades about 0.24 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.14 per unit of risk. If you would invest 632.00 in Guangdong Jingyi Metal on August 27, 2024 and sell it today you would earn a total of 88.00 from holding Guangdong Jingyi Metal or generate 13.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangdong Jingyi Metal vs. Cicc Fund Management
Performance |
| Timeline |
| Guangdong Jingyi Metal |
| Cicc Fund Management |
Guangdong Jingyi and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangdong Jingyi and Cicc Fund
The main advantage of trading using opposite Guangdong Jingyi and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangdong Jingyi 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.| Guangdong Jingyi vs. Zijin Mining Group | Guangdong Jingyi vs. Wanhua Chemical Group | Guangdong Jingyi vs. Baoshan Iron Steel | Guangdong Jingyi vs. Rongsheng Petrochemical 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |