Correlation Between Cicc Fund and Guangzhou KingTeller
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By analyzing existing cross correlation between Cicc Fund Management and Guangzhou KingTeller Technology, you can compare the effects of market volatilities on Cicc Fund and Guangzhou KingTeller 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 Guangzhou KingTeller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Guangzhou KingTeller.
Diversification Opportunities for Cicc Fund and Guangzhou KingTeller
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Guangzhou is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Guangzhou KingTeller Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou KingTeller 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 Guangzhou KingTeller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou KingTeller has no effect on the direction of Cicc Fund i.e., Cicc Fund and Guangzhou KingTeller go up and down completely randomly.
Pair Corralation between Cicc Fund and Guangzhou KingTeller
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Guangzhou KingTeller. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 9.39 times less risky than Guangzhou KingTeller. The stock trades about -0.27 of its potential returns per unit of risk. The Guangzhou KingTeller Technology is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 440.00 in Guangzhou KingTeller Technology on August 30, 2024 and sell it today you would earn a total of 43.00 from holding Guangzhou KingTeller Technology or generate 9.77% 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. Guangzhou KingTeller Technolog
Performance |
| Timeline |
| Cicc Fund Management |
| Guangzhou KingTeller |
Cicc Fund and Guangzhou KingTeller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Guangzhou KingTeller
The main advantage of trading using opposite Cicc Fund and Guangzhou KingTeller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Guangzhou KingTeller 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 Guangzhou KingTeller will offset losses from the drop in Guangzhou KingTeller'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 |
| Guangzhou KingTeller vs. Cambricon Technologies Corp | Guangzhou KingTeller vs. Loongson Technology Corp | Guangzhou KingTeller vs. Shenzhen Fortune Trend | Guangzhou KingTeller vs. Chongqing Road Bridge |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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