Correlation Between Hunan Mendale and CICC Fund
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By analyzing existing cross correlation between Hunan Mendale Hometextile and CICC Fund Management, you can compare the effects of market volatilities on Hunan Mendale 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 Hunan Mendale with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hunan Mendale and CICC Fund.
Diversification Opportunities for Hunan Mendale and CICC Fund
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Hunan and CICC is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Hunan Mendale Hometextile 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 Hunan Mendale 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 Hunan Mendale Hometextile 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 Hunan Mendale i.e., Hunan Mendale and CICC Fund go up and down completely randomly.
Pair Corralation between Hunan Mendale and CICC Fund
Assuming the 90 days trading horizon Hunan Mendale Hometextile is expected to generate 2.53 times more return on investment than CICC Fund. However, Hunan Mendale is 2.53 times more volatile than CICC Fund Management. It trades about 0.32 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.27 per unit of risk. If you would invest 279.00 in Hunan Mendale Hometextile on September 14, 2024 and sell it today you would earn a total of 62.00 from holding Hunan Mendale Hometextile or generate 22.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hunan Mendale Hometextile vs. CICC Fund Management
Performance |
| Timeline |
| Hunan Mendale Hometextile |
| CICC Fund Management |
Hunan Mendale and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hunan Mendale and CICC Fund
The main advantage of trading using opposite Hunan Mendale and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hunan Mendale 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.| Hunan Mendale vs. Nanjing Putian Telecommunications | Hunan Mendale vs. Tianjin Realty Development | Hunan Mendale vs. Kangyue Technology Co | Hunan Mendale vs. Shenzhen Hifuture Electric |
| CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited | CICC Fund vs. China Construction Bank |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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