Correlation Between Cicc Fund and Gan Yuan
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By analyzing existing cross correlation between Cicc Fund Management and Gan Yuan Foods, you can compare the effects of market volatilities on Cicc Fund and Gan Yuan 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 Gan Yuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Gan Yuan.
Diversification Opportunities for Cicc Fund and Gan Yuan
Pay attention - limited upside
The 3 months correlation between Cicc and Gan is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Gan Yuan Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gan Yuan Foods 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 Gan Yuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gan Yuan Foods has no effect on the direction of Cicc Fund i.e., Cicc Fund and Gan Yuan go up and down completely randomly.
Pair Corralation between Cicc Fund and Gan Yuan
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Gan Yuan. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 3.36 times less risky than Gan Yuan. The stock trades about -0.06 of its potential returns per unit of risk. The Gan Yuan Foods is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 7,020 in Gan Yuan Foods on August 26, 2024 and sell it today you would earn a total of 245.00 from holding Gan Yuan Foods or generate 3.49% 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. Gan Yuan Foods
Performance |
| Timeline |
| Cicc Fund Management |
| Gan Yuan Foods |
Cicc Fund and Gan Yuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Gan Yuan
The main advantage of trading using opposite Cicc Fund and Gan Yuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Gan Yuan 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 Gan Yuan will offset losses from the drop in Gan Yuan'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 |
| Gan Yuan vs. China Petroleum Chemical | Gan Yuan vs. PetroChina Co Ltd | Gan Yuan vs. China State Construction | Gan Yuan vs. China Railway Group |
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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