Correlation Between Bank of Suzhou and Cicc Fund
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By analyzing existing cross correlation between Bank of Suzhou and Cicc Fund Management, you can compare the effects of market volatilities on Bank of Suzhou 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 Bank of Suzhou with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Suzhou and Cicc Fund.
Diversification Opportunities for Bank of Suzhou and Cicc Fund
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bank and Cicc is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Suzhou 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 Bank of Suzhou 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 Bank of Suzhou 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 Bank of Suzhou i.e., Bank of Suzhou and Cicc Fund go up and down completely randomly.
Pair Corralation between Bank of Suzhou and Cicc Fund
Assuming the 90 days trading horizon Bank of Suzhou is expected to generate 6.01 times less return on investment than Cicc Fund. In addition to that, Bank of Suzhou is 1.33 times more volatile than Cicc Fund Management. It trades about 0.07 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.53 per unit of volatility. If you would invest 225.00 in Cicc Fund Management on October 12, 2024 and sell it today you would earn a total of 23.00 from holding Cicc Fund Management or generate 10.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank of Suzhou vs. Cicc Fund Management
Performance |
| Timeline |
| Bank of Suzhou |
| Cicc Fund Management |
Bank of Suzhou and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of Suzhou and Cicc Fund
The main advantage of trading using opposite Bank of Suzhou and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Suzhou 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.| Bank of Suzhou vs. Qingdao Haier Biomedical | Bank of Suzhou vs. Nanjing Vishee Medical | Bank of Suzhou vs. Hainan Haiqi Transportation | Bank of Suzhou vs. Zhongzhu Medical Holdings |
| Cicc Fund vs. Vats Liquor Chain | Cicc Fund vs. TianJin 712 Communication | Cicc Fund vs. Guangzhou Haozhi Industrial | Cicc Fund vs. Guangzhou Dongfang Hotel |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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