Correlation Between Cicc Fund and Runjian Communication
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By analyzing existing cross correlation between Cicc Fund Management and Runjian Communication Co, you can compare the effects of market volatilities on Cicc Fund and Runjian Communication 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 Runjian Communication. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Runjian Communication.
Diversification Opportunities for Cicc Fund and Runjian Communication
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cicc and Runjian is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Runjian Communication Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Runjian Communication 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 Runjian Communication. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Runjian Communication has no effect on the direction of Cicc Fund i.e., Cicc Fund and Runjian Communication go up and down completely randomly.
Pair Corralation between Cicc Fund and Runjian Communication
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.3 times more return on investment than Runjian Communication. However, Cicc Fund Management is 3.32 times less risky than Runjian Communication. It trades about 0.34 of its potential returns per unit of risk. Runjian Communication Co is currently generating about 0.02 per unit of risk. If you would invest 230.00 in Cicc Fund Management on October 26, 2024 and sell it today you would earn a total of 17.00 from holding Cicc Fund Management or generate 7.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Cicc Fund Management vs. Runjian Communication Co
Performance |
| Timeline |
| Cicc Fund Management |
| Runjian Communication |
Cicc Fund and Runjian Communication Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Runjian Communication
The main advantage of trading using opposite Cicc Fund and Runjian Communication positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Runjian Communication 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 Runjian Communication will offset losses from the drop in Runjian Communication's long position.| Cicc Fund vs. Olympic Circuit Technology | Cicc Fund vs. Linewell Software Co | Cicc Fund vs. XinJiang GuoTong Pipeline | Cicc Fund vs. Maxvision Technology Corp |
| Runjian Communication vs. Cicc Fund Management | Runjian Communication vs. Cansino Biologics | Runjian Communication vs. CGN Nuclear Technology | Runjian Communication vs. Jinhe Biotechnology 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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