Correlation Between Cicc Fund and Advanced Technology
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By analyzing existing cross correlation between Cicc Fund Management and Advanced Technology Materials, you can compare the effects of market volatilities on Cicc Fund and Advanced Technology 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 Advanced Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Advanced Technology.
Diversification Opportunities for Cicc Fund and Advanced Technology
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Advanced is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Advanced Technology Materials in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Technology 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 Advanced Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Technology has no effect on the direction of Cicc Fund i.e., Cicc Fund and Advanced Technology go up and down completely randomly.
Pair Corralation between Cicc Fund and Advanced Technology
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Advanced Technology. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 7.54 times less risky than Advanced Technology. The stock trades about -0.17 of its potential returns per unit of risk. The Advanced Technology Materials is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 1,029 in Advanced Technology Materials on August 29, 2024 and sell it today you would earn a total of 185.00 from holding Advanced Technology Materials or generate 17.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Advanced Technology Materials
Performance |
| Timeline |
| Cicc Fund Management |
| Advanced Technology |
Cicc Fund and Advanced Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Advanced Technology
The main advantage of trading using opposite Cicc Fund and Advanced Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Advanced Technology 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 Advanced Technology will offset losses from the drop in Advanced Technology's long position.| Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
| Advanced Technology vs. Zijin Mining Group | Advanced Technology vs. Wanhua Chemical Group | Advanced Technology vs. Baoshan Iron Steel | Advanced Technology vs. Shandong Gold Mining |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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