Correlation Between Cicc Fund and Levima Advanced
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By analyzing existing cross correlation between Cicc Fund Management and Levima Advanced Materials, you can compare the effects of market volatilities on Cicc Fund and Levima Advanced 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 Levima Advanced. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Levima Advanced.
Diversification Opportunities for Cicc Fund and Levima Advanced
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Levima is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Levima Advanced Materials in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Levima Advanced Materials 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 Levima Advanced. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Levima Advanced Materials has no effect on the direction of Cicc Fund i.e., Cicc Fund and Levima Advanced go up and down completely randomly.
Pair Corralation between Cicc Fund and Levima Advanced
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.44 times more return on investment than Levima Advanced. However, Cicc Fund Management is 2.29 times less risky than Levima Advanced. It trades about -0.01 of its potential returns per unit of risk. Levima Advanced Materials is currently generating about -0.04 per unit of risk. If you would invest 242.00 in Cicc Fund Management on August 29, 2024 and sell it today you would lose (17.00) from holding Cicc Fund Management or give up 7.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 70.8% |
| Values | Daily Returns |
Cicc Fund Management vs. Levima Advanced Materials
Performance |
| Timeline |
| Cicc Fund Management |
| Levima Advanced Materials |
Cicc Fund and Levima Advanced Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Levima Advanced
The main advantage of trading using opposite Cicc Fund and Levima Advanced positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Levima Advanced 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 Levima Advanced will offset losses from the drop in Levima Advanced'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 |
| Levima Advanced vs. Zijin Mining Group | Levima Advanced vs. Wanhua Chemical Group | Levima Advanced vs. Baoshan Iron Steel | Levima Advanced vs. Shandong Gold Mining |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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