Correlation Between Cicc Fund and Hengli Industrial
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By analyzing existing cross correlation between Cicc Fund Management and Hengli Industrial Development, you can compare the effects of market volatilities on Cicc Fund and Hengli Industrial 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 Cicc Fund with a short position of Hengli Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Hengli Industrial.
Diversification Opportunities for Cicc Fund and Hengli Industrial
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cicc and Hengli is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Hengli Industrial Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hengli Industrial and Cicc Fund 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 Cicc Fund Management are associated (or correlated) with Hengli Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hengli Industrial has no effect on the direction of Cicc Fund i.e., Cicc Fund and Hengli Industrial go up and down completely randomly.
Pair Corralation between Cicc Fund and Hengli Industrial
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.36 times more return on investment than Hengli Industrial. However, Cicc Fund Management is 2.79 times less risky than Hengli Industrial. It trades about 0.25 of its potential returns per unit of risk. Hengli Industrial Development is currently generating about 0.04 per unit of risk. If you would invest 248.00 in Cicc Fund Management on November 27, 2024 and sell it today you would earn a total of 11.00 from holding Cicc Fund Management or generate 4.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Hengli Industrial Development
Performance |
| Timeline |
| Cicc Fund Management |
| Hengli Industrial |
Cicc Fund and Hengli Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Hengli Industrial
The main advantage of trading using opposite Cicc Fund and Hengli Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Hengli Industrial 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 Hengli Industrial will offset losses from the drop in Hengli Industrial's long position.| Cicc Fund vs. Innovative Medical Management | Cicc Fund vs. Anhui Xinhua Media | Cicc Fund vs. CareRay Digital Medical | Cicc Fund vs. Double Medical Technology |
| Hengli Industrial vs. Vohringer Home Technology | Hengli Industrial vs. Mengtian Home Group | Hengli Industrial vs. A Zenith Home Furnishings | Hengli Industrial vs. Hubei Forbon Technology |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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