Correlation Between DO Home and CICC Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between DO Home Collection and CICC Fund Management, you can compare the effects of market volatilities on DO Home 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 DO Home with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of DO Home and CICC Fund.
Diversification Opportunities for DO Home and CICC Fund
Good diversification
The 3 months correlation between 002798 and CICC is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding DO Home Collection 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 DO Home 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 DO Home Collection 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 DO Home i.e., DO Home and CICC Fund go up and down completely randomly.
Pair Corralation between DO Home and CICC Fund
Assuming the 90 days trading horizon DO Home Collection is expected to under-perform the CICC Fund. In addition to that, DO Home is 3.72 times more volatile than CICC Fund Management. It trades about -0.04 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.09 per unit of volatility. If you would invest 274.00 in CICC Fund Management on October 16, 2024 and sell it today you would earn a total of 112.00 from holding CICC Fund Management or generate 40.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DO Home Collection vs. CICC Fund Management
Performance |
| Timeline |
| DO Home Collection |
| CICC Fund Management |
DO Home and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DO Home and CICC Fund
The main advantage of trading using opposite DO Home and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DO Home 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.| DO Home vs. Hainan Mining Co | DO Home vs. Shuhua Sports Co | DO Home vs. Hubeiyichang Transportation Group | DO Home vs. Sportsoul Co Ltd |
| CICC Fund vs. Nanjing OLO Home | CICC Fund vs. Suzhou Weizhixiang Food | CICC Fund vs. DO Home Collection | CICC Fund vs. Jiajia Food Group |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |