Correlation Between Contemporary Amperex and CICC Fund
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By analyzing existing cross correlation between Contemporary Amperex Technology and CICC Fund Management, you can compare the effects of market volatilities on Contemporary Amperex 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 Contemporary Amperex with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contemporary Amperex and CICC Fund.
Diversification Opportunities for Contemporary Amperex and CICC Fund
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Contemporary and CICC is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Contemporary Amperex Technolog 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 Contemporary Amperex 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 Contemporary Amperex Technology 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 Contemporary Amperex i.e., Contemporary Amperex and CICC Fund go up and down completely randomly.
Pair Corralation between Contemporary Amperex and CICC Fund
Assuming the 90 days trading horizon Contemporary Amperex Technology is expected to generate 5.77 times more return on investment than CICC Fund. However, Contemporary Amperex is 5.77 times more volatile than CICC Fund Management. It trades about 0.16 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.0 per unit of risk. If you would invest 19,752 in Contemporary Amperex Technology on August 25, 2024 and sell it today you would earn a total of 6,158 from holding Contemporary Amperex Technology or generate 31.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contemporary Amperex Technolog vs. CICC Fund Management
Performance |
| Timeline |
| Contemporary Amperex |
| CICC Fund Management |
Contemporary Amperex and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contemporary Amperex and CICC Fund
The main advantage of trading using opposite Contemporary Amperex and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contemporary Amperex 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.| Contemporary Amperex vs. Harbin Air Conditioning | Contemporary Amperex vs. Markor International Home | Contemporary Amperex vs. Anhui Huilong Agricultural | Contemporary Amperex vs. Hunan Tyen Machinery |
| 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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