Correlation Between Cicc Fund and Panda Dairy
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By analyzing existing cross correlation between Cicc Fund Management and Panda Dairy Corp, you can compare the effects of market volatilities on Cicc Fund and Panda Dairy 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 Panda Dairy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Panda Dairy.
Diversification Opportunities for Cicc Fund and Panda Dairy
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Panda is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Panda Dairy Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Panda Dairy Corp 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 Panda Dairy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Panda Dairy Corp has no effect on the direction of Cicc Fund i.e., Cicc Fund and Panda Dairy go up and down completely randomly.
Pair Corralation between Cicc Fund and Panda Dairy
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Panda Dairy. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 4.69 times less risky than Panda Dairy. The stock trades about -0.06 of its potential returns per unit of risk. The Panda Dairy Corp is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 2,110 in Panda Dairy Corp on August 26, 2024 and sell it today you would lose (12.00) from holding Panda Dairy Corp or give up 0.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Panda Dairy Corp
Performance |
| Timeline |
| Cicc Fund Management |
| Panda Dairy Corp |
Cicc Fund and Panda Dairy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Panda Dairy
The main advantage of trading using opposite Cicc Fund and Panda Dairy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Panda Dairy 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 Panda Dairy will offset losses from the drop in Panda Dairy'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 |
| Panda Dairy vs. China Petroleum Chemical | Panda Dairy vs. PetroChina Co Ltd | Panda Dairy vs. China State Construction | Panda Dairy 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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