Correlation Between Sino Wealth and Cicc Fund
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By analyzing existing cross correlation between Sino Wealth Electronic and Cicc Fund Management, you can compare the effects of market volatilities on Sino Wealth 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 Sino Wealth with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sino Wealth and Cicc Fund.
Diversification Opportunities for Sino Wealth and Cicc Fund
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sino and Cicc is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Sino Wealth Electronic 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 Sino Wealth 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 Sino Wealth Electronic 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 Sino Wealth i.e., Sino Wealth and Cicc Fund go up and down completely randomly.
Pair Corralation between Sino Wealth and Cicc Fund
Assuming the 90 days trading horizon Sino Wealth Electronic is expected to under-perform the Cicc Fund. In addition to that, Sino Wealth is 6.21 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 -0.17 per unit of volatility. If you would invest 230.00 in Cicc Fund Management on August 29, 2024 and sell it today you would lose (5.00) from holding Cicc Fund Management or give up 2.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sino Wealth Electronic vs. Cicc Fund Management
Performance |
| Timeline |
| Sino Wealth Electronic |
| Cicc Fund Management |
Sino Wealth and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sino Wealth and Cicc Fund
The main advantage of trading using opposite Sino Wealth and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sino Wealth 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.| Sino Wealth vs. Lutian Machinery Co | Sino Wealth vs. China Longyuan Power | Sino Wealth vs. Changshu Tongrun Auto | Sino Wealth vs. PetroChina Co Ltd |
| Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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