Correlation Between Anhui Gujing and Cicc Fund
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By analyzing existing cross correlation between Anhui Gujing Distillery and Cicc Fund Management, you can compare the effects of market volatilities on Anhui Gujing 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 Anhui Gujing with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Gujing and Cicc Fund.
Diversification Opportunities for Anhui Gujing and Cicc Fund
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anhui and Cicc is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Gujing Distillery 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 Anhui Gujing 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 Anhui Gujing Distillery 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 Anhui Gujing i.e., Anhui Gujing and Cicc Fund go up and down completely randomly.
Pair Corralation between Anhui Gujing and Cicc Fund
Assuming the 90 days trading horizon Anhui Gujing is expected to generate 3.16 times less return on investment than Cicc Fund. In addition to that, Anhui Gujing is 1.25 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 0.27 per unit of volatility. If you would invest 223.00 in Cicc Fund Management on October 26, 2024 and sell it today you would earn a total of 23.00 from holding Cicc Fund Management or generate 10.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Gujing Distillery vs. Cicc Fund Management
Performance |
| Timeline |
| Anhui Gujing Distillery |
| Cicc Fund Management |
Anhui Gujing and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Gujing and Cicc Fund
The main advantage of trading using opposite Anhui Gujing and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Gujing 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.| Anhui Gujing vs. Cicc Fund Management | Anhui Gujing vs. AVIC Fund Management | Anhui Gujing vs. Harvest Fund Management | Anhui Gujing vs. Holitech Technology Co |
| Cicc Fund vs. Olympic Circuit Technology | Cicc Fund vs. Linewell Software Co | Cicc Fund vs. XinJiang GuoTong Pipeline | Cicc Fund vs. Maxvision Technology Corp |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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