Correlation Between Fibocom Wireless and Cicc Fund
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By analyzing existing cross correlation between Fibocom Wireless and Cicc Fund Management, you can compare the effects of market volatilities on Fibocom Wireless 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 Fibocom Wireless with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibocom Wireless and Cicc Fund.
Diversification Opportunities for Fibocom Wireless and Cicc Fund
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Fibocom and Cicc is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Fibocom Wireless 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 Fibocom Wireless 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 Fibocom Wireless 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 Fibocom Wireless i.e., Fibocom Wireless and Cicc Fund go up and down completely randomly.
Pair Corralation between Fibocom Wireless and Cicc Fund
Assuming the 90 days trading horizon Fibocom Wireless is expected to under-perform the Cicc Fund. In addition to that, Fibocom Wireless is 5.49 times more volatile than Cicc Fund Management. It trades about 0.0 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.46 per unit of volatility. If you would invest 223.00 in Cicc Fund Management on October 9, 2024 and sell it today you would earn a total of 18.00 from holding Cicc Fund Management or generate 8.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fibocom Wireless vs. Cicc Fund Management
Performance |
| Timeline |
| Fibocom Wireless |
| Cicc Fund Management |
Fibocom Wireless and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibocom Wireless and Cicc Fund
The main advantage of trading using opposite Fibocom Wireless and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibocom Wireless 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.| Fibocom Wireless vs. Tongxing Environmental Protection | Fibocom Wireless vs. Elite Color Environmental | Fibocom Wireless vs. Qiaoyin Environmental Tech | Fibocom Wireless vs. Baoshan Iron Steel |
| Cicc Fund vs. Lonkey Industrial Co | Cicc Fund vs. AVIC Fund Management | Cicc Fund vs. China Asset Management | Cicc Fund vs. Chengdu Spaceon Electronics |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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