Correlation Between Runjian Communication and Cicc Fund
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By analyzing existing cross correlation between Runjian Communication Co and Cicc Fund Management, you can compare the effects of market volatilities on Runjian Communication 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 Runjian Communication with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Runjian Communication and Cicc Fund.
Diversification Opportunities for Runjian Communication and Cicc Fund
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Runjian and Cicc is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Runjian Communication Co 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 Runjian Communication 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 Runjian Communication Co 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 Runjian Communication i.e., Runjian Communication and Cicc Fund go up and down completely randomly.
Pair Corralation between Runjian Communication and Cicc Fund
Assuming the 90 days trading horizon Runjian Communication Co is expected to under-perform the Cicc Fund. In addition to that, Runjian Communication is 4.45 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 0.46 per unit of volatility. If you would invest 223.00 in Cicc Fund Management on October 9, 2024 and sell it today you would earn a total of 18.00 from holding Cicc Fund Management or generate 8.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Runjian Communication Co vs. Cicc Fund Management
Performance |
| Timeline |
| Runjian Communication |
| Cicc Fund Management |
Runjian Communication and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Runjian Communication and Cicc Fund
The main advantage of trading using opposite Runjian Communication and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Runjian Communication 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.| Runjian Communication vs. Industrial and Commercial | Runjian Communication vs. Kweichow Moutai Co | Runjian Communication vs. Agricultural Bank of | Runjian Communication vs. China Mobile Limited |
| Cicc Fund vs. Lonkey Industrial Co | Cicc Fund vs. AVIC Fund Management | Cicc Fund vs. China Asset Management | Cicc Fund vs. Chengdu Spaceon Electronics |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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