Correlation Between Sichuan Fulin and CICC Fund
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By analyzing existing cross correlation between Sichuan Fulin Transportation and CICC Fund Management, you can compare the effects of market volatilities on Sichuan Fulin 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 Sichuan Fulin with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Fulin and CICC Fund.
Diversification Opportunities for Sichuan Fulin and CICC Fund
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sichuan and CICC is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Fulin Transportation 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 Sichuan Fulin 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 Sichuan Fulin Transportation 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 Sichuan Fulin i.e., Sichuan Fulin and CICC Fund go up and down completely randomly.
Pair Corralation between Sichuan Fulin and CICC Fund
Assuming the 90 days trading horizon Sichuan Fulin Transportation is expected to under-perform the CICC Fund. In addition to that, Sichuan Fulin is 3.08 times more volatile than CICC Fund Management. It trades about -0.08 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.26 per unit of volatility. If you would invest 369.00 in CICC Fund Management on October 22, 2024 and sell it today you would earn a total of 18.00 from holding CICC Fund Management or generate 4.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sichuan Fulin Transportation vs. CICC Fund Management
Performance |
| Timeline |
| Sichuan Fulin Transp |
| CICC Fund Management |
Sichuan Fulin and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Fulin and CICC Fund
The main advantage of trading using opposite Sichuan Fulin and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Fulin 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.| Sichuan Fulin vs. GRINM Semiconductor Materials | Sichuan Fulin vs. Lontium Semiconductor Corp | Sichuan Fulin vs. Lutian Machinery Co | Sichuan Fulin vs. Anhui Huilong Agricultural |
| CICC Fund vs. Sichuan Fulin Transportation | CICC Fund vs. Easyhome New Retail | CICC Fund vs. Zhangjiagang Freetrade Science | CICC Fund vs. China World Trade |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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