Correlation Between Guangzhou Haozhi and Cicc Fund
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By analyzing existing cross correlation between Guangzhou Haozhi Industrial and Cicc Fund Management, you can compare the effects of market volatilities on Guangzhou Haozhi 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 Haozhi with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Haozhi and Cicc Fund.
Diversification Opportunities for Guangzhou Haozhi and Cicc Fund
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Guangzhou and Cicc is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Haozhi Industrial 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 Haozhi 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 Haozhi Industrial 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 Haozhi i.e., Guangzhou Haozhi and Cicc Fund go up and down completely randomly.
Pair Corralation between Guangzhou Haozhi and Cicc Fund
Assuming the 90 days trading horizon Guangzhou Haozhi Industrial is expected to under-perform the Cicc Fund. In addition to that, Guangzhou Haozhi is 4.9 times more volatile than Cicc Fund Management. It trades about -0.21 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.58 per unit of volatility. If you would invest 222.00 in Cicc Fund Management on October 11, 2024 and sell it today you would earn a total of 26.00 from holding Cicc Fund Management or generate 11.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou Haozhi Industrial vs. Cicc Fund Management
Performance |
| Timeline |
| Guangzhou Haozhi Ind |
| Cicc Fund Management |
Guangzhou Haozhi and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Haozhi and Cicc Fund
The main advantage of trading using opposite Guangzhou Haozhi and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Haozhi 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 Haozhi vs. Union Semiconductor Co | Guangzhou Haozhi vs. Yuanjie Semiconductor Technology | Guangzhou Haozhi vs. Southchip Semiconductor Technology | Guangzhou Haozhi vs. StarPower Semiconductor |
| 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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