Correlation Between Nanjing Putian and Cicc Fund
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By analyzing existing cross correlation between Nanjing Putian Telecommunications and Cicc Fund Management, you can compare the effects of market volatilities on Nanjing Putian 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 Nanjing Putian with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nanjing Putian and Cicc Fund.
Diversification Opportunities for Nanjing Putian and Cicc Fund
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Nanjing and Cicc is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Nanjing Putian Telecommunicati 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 Nanjing Putian 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 Nanjing Putian Telecommunications 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 Nanjing Putian i.e., Nanjing Putian and Cicc Fund go up and down completely randomly.
Pair Corralation between Nanjing Putian and Cicc Fund
Assuming the 90 days trading horizon Nanjing Putian Telecommunications is expected to generate 3.97 times more return on investment than Cicc Fund. However, Nanjing Putian is 3.97 times more volatile than Cicc Fund Management. It trades about 0.34 of its potential returns per unit of risk. Cicc Fund Management is currently generating about 0.19 per unit of risk. If you would invest 318.00 in Nanjing Putian Telecommunications on November 5, 2024 and sell it today you would earn a total of 70.00 from holding Nanjing Putian Telecommunications or generate 22.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nanjing Putian Telecommunicati vs. Cicc Fund Management
Performance |
| Timeline |
| Nanjing Putian Telec |
| Cicc Fund Management |
Nanjing Putian and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nanjing Putian and Cicc Fund
The main advantage of trading using opposite Nanjing Putian and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nanjing Putian 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.| Nanjing Putian vs. Industrial and Commercial | Nanjing Putian vs. Kweichow Moutai Co | Nanjing Putian vs. Agricultural Bank of | Nanjing Putian vs. China Mobile Limited |
| Cicc Fund vs. UCloud Technology Co | Cicc Fund vs. Yili Chuanning Biotechnology | Cicc Fund vs. Eyebright Medical Technology | Cicc Fund vs. Olympic Circuit Technology |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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