Correlation Between Cicc Fund and Gotion High
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By analyzing existing cross correlation between Cicc Fund Management and Gotion High tech, you can compare the effects of market volatilities on Cicc Fund and Gotion High 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 Gotion High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Gotion High.
Diversification Opportunities for Cicc Fund and Gotion High
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Gotion is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Gotion High tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gotion High tech 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 Gotion High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gotion High tech has no effect on the direction of Cicc Fund i.e., Cicc Fund and Gotion High go up and down completely randomly.
Pair Corralation between Cicc Fund and Gotion High
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Gotion High. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 2.2 times less risky than Gotion High. The stock trades about -0.02 of its potential returns per unit of risk. The Gotion High tech is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 2,614 in Gotion High tech on September 12, 2024 and sell it today you would lose (354.00) from holding Gotion High tech or give up 13.54% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Gotion High tech
Performance |
| Timeline |
| Cicc Fund Management |
| Gotion High tech |
Cicc Fund and Gotion High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Gotion High
The main advantage of trading using opposite Cicc Fund and Gotion High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Gotion High 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 Gotion High will offset losses from the drop in Gotion High's long position.| Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited | Cicc Fund vs. China Construction Bank |
| Gotion High vs. Beijing Wandong Medical | Gotion High vs. Dongguan Tarry Electronics | Gotion High vs. Jiugui Liquor Co | Gotion High vs. Bomin Electronics Co |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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