Correlation Between Cicc Fund and China Yangtze
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By analyzing existing cross correlation between Cicc Fund Management and China Yangtze Power, you can compare the effects of market volatilities on Cicc Fund and China Yangtze 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 Yangtze. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and China Yangtze.
Diversification Opportunities for Cicc Fund and China Yangtze
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cicc and China is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and China Yangtze Power in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Yangtze Power 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 Yangtze. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Yangtze Power has no effect on the direction of Cicc Fund i.e., Cicc Fund and China Yangtze go up and down completely randomly.
Pair Corralation between Cicc Fund and China Yangtze
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the China Yangtze. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 1.58 times less risky than China Yangtze. The stock trades about 0.0 of its potential returns per unit of risk. The China Yangtze Power is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 2,661 in China Yangtze Power on August 29, 2024 and sell it today you would earn a total of 78.00 from holding China Yangtze Power or generate 2.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. China Yangtze Power
Performance |
| Timeline |
| Cicc Fund Management |
| China Yangtze Power |
Cicc Fund and China Yangtze Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and China Yangtze
The main advantage of trading using opposite Cicc Fund and China Yangtze positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, China Yangtze 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 Yangtze will offset losses from the drop in China Yangtze'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 |
| China Yangtze vs. Guizhou BroadcastingTV Info | China Yangtze vs. Hunan Investment Group | China Yangtze vs. Tieling Newcity Investment | China Yangtze vs. Fujian Longzhou Transportation |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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