Correlation Between Guangzhou Boji and Cicc Fund
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By analyzing existing cross correlation between Guangzhou Boji Medical and Cicc Fund Management, you can compare the effects of market volatilities on Guangzhou Boji 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 Guangzhou Boji with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Boji and Cicc Fund.
Diversification Opportunities for Guangzhou Boji and Cicc Fund
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guangzhou and Cicc is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Boji Medical 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 Guangzhou Boji 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 Guangzhou Boji Medical 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 Guangzhou Boji i.e., Guangzhou Boji and Cicc Fund go up and down completely randomly.
Pair Corralation between Guangzhou Boji and Cicc Fund
Assuming the 90 days trading horizon Guangzhou Boji Medical is expected to generate 5.52 times more return on investment than Cicc Fund. However, Guangzhou Boji is 5.52 times more volatile than Cicc Fund Management. It trades about -0.02 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.36 per unit of risk. If you would invest 917.00 in Guangzhou Boji Medical on September 1, 2024 and sell it today you would lose (16.00) from holding Guangzhou Boji Medical or give up 1.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou Boji Medical vs. Cicc Fund Management
Performance |
| Timeline |
| Guangzhou Boji Medical |
| Cicc Fund Management |
Guangzhou Boji and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Boji and Cicc Fund
The main advantage of trading using opposite Guangzhou Boji and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Boji 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.| Guangzhou Boji vs. Changchun Engley Automobile | Guangzhou Boji vs. Anhui Jianghuai Automobile | Guangzhou Boji vs. Songz Automobile Air | Guangzhou Boji vs. Shenzhen Kexin Communication |
| 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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