Correlation Between Sharetronic Data and CICC Fund
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By analyzing existing cross correlation between Sharetronic Data Technology and CICC Fund Management, you can compare the effects of market volatilities on Sharetronic Data 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 Sharetronic Data with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sharetronic Data and CICC Fund.
Diversification Opportunities for Sharetronic Data and CICC Fund
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sharetronic and CICC is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Sharetronic Data Technology 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 Sharetronic Data 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 Sharetronic Data 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 Sharetronic Data i.e., Sharetronic Data and CICC Fund go up and down completely randomly.
Pair Corralation between Sharetronic Data and CICC Fund
Assuming the 90 days trading horizon Sharetronic Data is expected to generate 1.85 times less return on investment than CICC Fund. In addition to that, Sharetronic Data is 2.91 times more volatile than CICC Fund Management. It trades about 0.07 of its total potential returns per unit of risk. CICC Fund Management is currently generating about 0.4 per unit of volatility. If you would invest 343.00 in CICC Fund Management on October 11, 2024 and sell it today you would earn a total of 43.00 from holding CICC Fund Management or generate 12.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sharetronic Data Technology vs. CICC Fund Management
Performance |
| Timeline |
| Sharetronic Data Tec |
| CICC Fund Management |
Sharetronic Data and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sharetronic Data and CICC Fund
The main advantage of trading using opposite Sharetronic Data and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sharetronic Data 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.| Sharetronic Data vs. TianJin 712 Communication | Sharetronic Data vs. Guangxi Wuzhou Communications | Sharetronic Data vs. Nanjing Putian Telecommunications | Sharetronic Data vs. Guosheng Financial Holding |
| CICC Fund vs. CITIC Metal Co | CICC Fund vs. Zoje Resources Investment | CICC Fund vs. ZYF Lopsking Aluminum | CICC Fund vs. Rising Nonferrous Metals |
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 Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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