Correlation Between Jiangsu Jinling and CICC Fund
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By analyzing existing cross correlation between Jiangsu Jinling Sports and CICC Fund Management, you can compare the effects of market volatilities on Jiangsu Jinling 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 Jiangsu Jinling with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Jinling and CICC Fund.
Diversification Opportunities for Jiangsu Jinling and CICC Fund
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jiangsu and CICC is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Jinling Sports 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 Jiangsu Jinling 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 Jiangsu Jinling Sports 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 Jiangsu Jinling i.e., Jiangsu Jinling and CICC Fund go up and down completely randomly.
Pair Corralation between Jiangsu Jinling and CICC Fund
Assuming the 90 days trading horizon Jiangsu Jinling Sports is expected to generate 3.12 times more return on investment than CICC Fund. However, Jiangsu Jinling is 3.12 times more volatile than CICC Fund Management. It trades about 0.07 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.17 per unit of risk. If you would invest 1,375 in Jiangsu Jinling Sports on August 28, 2024 and sell it today you would earn a total of 44.00 from holding Jiangsu Jinling Sports or generate 3.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Jinling Sports vs. CICC Fund Management
Performance |
| Timeline |
| Jiangsu Jinling Sports |
| CICC Fund Management |
Jiangsu Jinling and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Jinling and CICC Fund
The main advantage of trading using opposite Jiangsu Jinling and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Jinling 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.| Jiangsu Jinling vs. Shenzhen MYS Environmental | Jiangsu Jinling vs. AVIC Fund Management | Jiangsu Jinling vs. Shenzhen Bingchuan Network | Jiangsu Jinling vs. Penghua Shenzhen Energy |
| 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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