Correlation Between Cicc Fund and China Eastern
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By analyzing existing cross correlation between Cicc Fund Management and China Eastern Airlines, you can compare the effects of market volatilities on Cicc Fund and China Eastern 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 Eastern. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and China Eastern.
Diversification Opportunities for Cicc Fund and China Eastern
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cicc and China is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and China Eastern Airlines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Eastern Airlines 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 Eastern. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Eastern Airlines has no effect on the direction of Cicc Fund i.e., Cicc Fund and China Eastern go up and down completely randomly.
Pair Corralation between Cicc Fund and China Eastern
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.75 times more return on investment than China Eastern. However, Cicc Fund Management is 1.34 times less risky than China Eastern. It trades about 0.01 of its potential returns per unit of risk. China Eastern Airlines is currently generating about -0.04 per unit of risk. If you would invest 239.00 in Cicc Fund Management on October 27, 2024 and sell it today you would earn a total of 8.00 from holding Cicc Fund Management or generate 3.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 78.63% |
| Values | Daily Returns |
Cicc Fund Management vs. China Eastern Airlines
Performance |
| Timeline |
| Cicc Fund Management |
| China Eastern Airlines |
Cicc Fund and China Eastern Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and China Eastern
The main advantage of trading using opposite Cicc Fund and China Eastern positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, China Eastern 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 Eastern will offset losses from the drop in China Eastern's long position.| Cicc Fund vs. Nanjing Putian Telecommunications | Cicc Fund vs. Zhejiang JIULI Hi tech | Cicc Fund vs. Hubei Xingfa Chemicals | Cicc Fund vs. Do Fluoride Chemicals Co |
| China Eastern vs. Hubei Geoway Investment | China Eastern vs. Liaoning Chengda Biotechnology | China Eastern vs. Changchun BCHT Biotechnology | China Eastern vs. Jiangsu GDK Biotechnology |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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