Correlation Between Dalian Zeus and CICC Fund
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By analyzing existing cross correlation between Dalian Zeus Entertainment and CICC Fund Management, you can compare the effects of market volatilities on Dalian Zeus 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 Dalian Zeus with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalian Zeus and CICC Fund.
Diversification Opportunities for Dalian Zeus and CICC Fund
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dalian and CICC is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Dalian Zeus Entertainment 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 Dalian Zeus 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 Dalian Zeus Entertainment 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 Dalian Zeus i.e., Dalian Zeus and CICC Fund go up and down completely randomly.
Pair Corralation between Dalian Zeus and CICC Fund
Assuming the 90 days trading horizon Dalian Zeus Entertainment is expected to generate 7.74 times more return on investment than CICC Fund. However, Dalian Zeus is 7.74 times more volatile than CICC Fund Management. It trades about 0.31 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.33 per unit of risk. If you would invest 349.00 in Dalian Zeus Entertainment on September 2, 2024 and sell it today you would earn a total of 141.00 from holding Dalian Zeus Entertainment or generate 40.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dalian Zeus Entertainment vs. CICC Fund Management
Performance |
| Timeline |
| Dalian Zeus Entertainment |
| CICC Fund Management |
Dalian Zeus and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalian Zeus and CICC Fund
The main advantage of trading using opposite Dalian Zeus and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalian Zeus 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.| Dalian Zeus vs. Shenzhen MYS Environmental | Dalian Zeus vs. AVIC Fund Management | Dalian Zeus vs. Penghua Shenzhen Energy | Dalian Zeus vs. Jizhong Energy Resources |
| CICC Fund vs. Easyhome New Retail | CICC Fund vs. Huaxia Fund Management | CICC Fund vs. Shanghai CEO Environmental | CICC Fund vs. Guangzhou Zhujiang Brewery |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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