Correlation Between Cicc Fund and Offshore Oil
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By analyzing existing cross correlation between Cicc Fund Management and Offshore Oil Engineering, you can compare the effects of market volatilities on Cicc Fund and Offshore Oil 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 Offshore Oil. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Offshore Oil.
Diversification Opportunities for Cicc Fund and Offshore Oil
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cicc and Offshore is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Offshore Oil Engineering in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Offshore Oil Engineering 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 Offshore Oil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Offshore Oil Engineering has no effect on the direction of Cicc Fund i.e., Cicc Fund and Offshore Oil go up and down completely randomly.
Pair Corralation between Cicc Fund and Offshore Oil
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.54 times more return on investment than Offshore Oil. However, Cicc Fund Management is 1.85 times less risky than Offshore Oil. It trades about 0.01 of its potential returns per unit of risk. Offshore Oil Engineering is currently generating about -0.01 per unit of risk. If you would invest 239.00 in Cicc Fund Management on October 11, 2024 and sell it today you would earn a total of 4.00 from holding Cicc Fund Management or generate 1.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 77.1% |
| Values | Daily Returns |
Cicc Fund Management vs. Offshore Oil Engineering
Performance |
| Timeline |
| Cicc Fund Management |
| Offshore Oil Engineering |
Cicc Fund and Offshore Oil Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Offshore Oil
The main advantage of trading using opposite Cicc Fund and Offshore Oil positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Offshore Oil 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 Offshore Oil will offset losses from the drop in Offshore Oil's long position.| Cicc Fund vs. Rising Nonferrous Metals | Cicc Fund vs. Guangdong Jingyi Metal | Cicc Fund vs. Tibet Huayu Mining | Cicc Fund vs. Universal Scientific Industrial |
| Offshore Oil vs. Zhejiang Kingland Pipeline | Offshore Oil vs. Ningbo Tech Bank Co | Offshore Oil vs. Shanghai Broadband Technology | Offshore Oil vs. Ming Yang Smart |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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