Correlation Between Cicc Fund and Fuyao Glass
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cicc Fund Management and Fuyao Glass Industry, you can compare the effects of market volatilities on Cicc Fund and Fuyao Glass 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 Fuyao Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Fuyao Glass.
Diversification Opportunities for Cicc Fund and Fuyao Glass
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cicc and Fuyao is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Fuyao Glass Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fuyao Glass Industry 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 Fuyao Glass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fuyao Glass Industry has no effect on the direction of Cicc Fund i.e., Cicc Fund and Fuyao Glass go up and down completely randomly.
Pair Corralation between Cicc Fund and Fuyao Glass
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Fuyao Glass. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 3.03 times less risky than Fuyao Glass. The stock trades about -0.14 of its potential returns per unit of risk. The Fuyao Glass Industry is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 4,826 in Fuyao Glass Industry on September 12, 2024 and sell it today you would earn a total of 909.00 from holding Fuyao Glass Industry or generate 18.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Fuyao Glass Industry
Performance |
| Timeline |
| Cicc Fund Management |
| Fuyao Glass Industry |
Cicc Fund and Fuyao Glass Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Fuyao Glass
The main advantage of trading using opposite Cicc Fund and Fuyao Glass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Fuyao Glass 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 Fuyao Glass will offset losses from the drop in Fuyao Glass' long position.| Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited | Cicc Fund vs. China Construction Bank |
| Fuyao Glass vs. Guangzhou KingTeller Technology | Fuyao Glass vs. Dongguan Aohai Technology | Fuyao Glass vs. Jiangsu Yueda Investment | Fuyao Glass vs. Tianshui Huatian Technology |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |