Correlation Between Huasi Agricultural and Cicc Fund
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By analyzing existing cross correlation between Huasi Agricultural Development and Cicc Fund Management, you can compare the effects of market volatilities on Huasi Agricultural 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 Huasi Agricultural with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huasi Agricultural and Cicc Fund.
Diversification Opportunities for Huasi Agricultural and Cicc Fund
-0.88 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Huasi and Cicc is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding Huasi Agricultural Development 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 Huasi Agricultural 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 Huasi Agricultural Development 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 Huasi Agricultural i.e., Huasi Agricultural and Cicc Fund go up and down completely randomly.
Pair Corralation between Huasi Agricultural and Cicc Fund
Assuming the 90 days trading horizon Huasi Agricultural Development is expected to generate 2.66 times more return on investment than Cicc Fund. However, Huasi Agricultural is 2.66 times more volatile than Cicc Fund Management. It trades about 0.01 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.01 per unit of risk. If you would invest 481.00 in Huasi Agricultural Development on September 3, 2024 and sell it today you would lose (44.00) from holding Huasi Agricultural Development or give up 9.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 71.49% |
| Values | Daily Returns |
Huasi Agricultural Development vs. Cicc Fund Management
Performance |
| Timeline |
| Huasi Agricultural |
| Cicc Fund Management |
Huasi Agricultural and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huasi Agricultural and Cicc Fund
The main advantage of trading using opposite Huasi Agricultural and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huasi Agricultural 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.| Huasi Agricultural vs. PetroChina Co Ltd | Huasi Agricultural vs. China Mobile Limited | Huasi Agricultural vs. Industrial and Commercial | Huasi Agricultural vs. China Life Insurance |
| Cicc Fund vs. Sinofibers Technology Co | Cicc Fund vs. Northking Information Technology | Cicc Fund vs. Guangdong Jingyi Metal | Cicc Fund vs. Kangping Technology Co |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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