Correlation Between Cicc Fund and Shenzhen Glory
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By analyzing existing cross correlation between Cicc Fund Management and Shenzhen Glory Medical, you can compare the effects of market volatilities on Cicc Fund and Shenzhen Glory 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 Shenzhen Glory. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Shenzhen Glory.
Diversification Opportunities for Cicc Fund and Shenzhen Glory
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cicc and Shenzhen is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Shenzhen Glory Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Glory Medical 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 Shenzhen Glory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Glory Medical has no effect on the direction of Cicc Fund i.e., Cicc Fund and Shenzhen Glory go up and down completely randomly.
Pair Corralation between Cicc Fund and Shenzhen Glory
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Shenzhen Glory. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 3.09 times less risky than Shenzhen Glory. The stock trades about -0.26 of its potential returns per unit of risk. The Shenzhen Glory Medical is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 326.00 in Shenzhen Glory Medical on January 24, 2025 and sell it today you would lose (10.00) from holding Shenzhen Glory Medical or give up 3.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Cicc Fund Management vs. Shenzhen Glory Medical
Performance |
| Timeline |
| Cicc Fund Management |
| Shenzhen Glory Medical |
Cicc Fund and Shenzhen Glory Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Shenzhen Glory
The main advantage of trading using opposite Cicc Fund and Shenzhen Glory positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Shenzhen Glory 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 Shenzhen Glory will offset losses from the drop in Shenzhen Glory's long position.| Cicc Fund vs. Jiangsu Xinri E Vehicle | Cicc Fund vs. Lander Sports Development | Cicc Fund vs. Shuhua Sports Co | Cicc Fund vs. Guangdong Lvtong New |
| Shenzhen Glory vs. CCore Technology Co | Shenzhen Glory vs. Dhc Software Co | Shenzhen Glory vs. Union Semiconductor Co | Shenzhen Glory vs. Kailong High 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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