Correlation Between Cicc Fund and Ligao Foods
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By analyzing existing cross correlation between Cicc Fund Management and Ligao Foods CoLtd, you can compare the effects of market volatilities on Cicc Fund and Ligao Foods 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 Ligao Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Ligao Foods.
Diversification Opportunities for Cicc Fund and Ligao Foods
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cicc and Ligao is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Ligao Foods CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ligao Foods CoLtd 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 Ligao Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ligao Foods CoLtd has no effect on the direction of Cicc Fund i.e., Cicc Fund and Ligao Foods go up and down completely randomly.
Pair Corralation between Cicc Fund and Ligao Foods
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.4 times more return on investment than Ligao Foods. However, Cicc Fund Management is 2.53 times less risky than Ligao Foods. It trades about -0.01 of its potential returns per unit of risk. Ligao Foods CoLtd is currently generating about -0.05 per unit of risk. If you would invest 242.00 in Cicc Fund Management on August 30, 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 | 71.01% |
| Values | Daily Returns |
Cicc Fund Management vs. Ligao Foods CoLtd
Performance |
| Timeline |
| Cicc Fund Management |
| Ligao Foods CoLtd |
Cicc Fund and Ligao Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Ligao Foods
The main advantage of trading using opposite Cicc Fund and Ligao Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Ligao Foods 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 Ligao Foods will offset losses from the drop in Ligao Foods' 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 |
| Ligao Foods vs. Heren Health Co | Ligao Foods vs. Lotus Health Group | Ligao Foods vs. Bank of Suzhou | Ligao Foods vs. Jiangsu Financial Leasing |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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