Correlation Between Cicc Fund and China Resources
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By analyzing existing cross correlation between Cicc Fund Management and China Resources Boya, you can compare the effects of market volatilities on Cicc Fund and China Resources 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 China Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and China Resources.
Diversification Opportunities for Cicc Fund and China Resources
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Cicc and China is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and China Resources Boya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Resources Boya 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 China Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Resources Boya has no effect on the direction of Cicc Fund i.e., Cicc Fund and China Resources go up and down completely randomly.
Pair Corralation between Cicc Fund and China Resources
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.3 times more return on investment than China Resources. However, Cicc Fund Management is 3.33 times less risky than China Resources. It trades about 0.05 of its potential returns per unit of risk. China Resources Boya is currently generating about -0.17 per unit of risk. If you would invest 235.00 in Cicc Fund Management on October 7, 2024 and sell it today you would earn a total of 5.00 from holding Cicc Fund Management or generate 2.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. China Resources Boya
Performance |
| Timeline |
| Cicc Fund Management |
| China Resources Boya |
Cicc Fund and China Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and China Resources
The main advantage of trading using opposite Cicc Fund and China Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, China Resources 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 China Resources will offset losses from the drop in China Resources' long position.| Cicc Fund vs. Runjian Communication Co | Cicc Fund vs. Fibocom Wireless | Cicc Fund vs. Aluminum Corp of | Cicc Fund vs. Ping An Insurance |
| China Resources vs. Konfoong Materials International | China Resources vs. Xinke Material | China Resources vs. Kangxin New Materials | China Resources vs. HaiXin Foods 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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