Correlation Between Cicc Fund and Ming Yang
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cicc Fund Management and Ming Yang Smart, you can compare the effects of market volatilities on Cicc Fund and Ming Yang 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 Ming Yang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Ming Yang.
Diversification Opportunities for Cicc Fund and Ming Yang
Pay attention - limited upside
The 3 months correlation between Cicc and Ming is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Ming Yang Smart in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ming Yang Smart 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 Ming Yang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ming Yang Smart has no effect on the direction of Cicc Fund i.e., Cicc Fund and Ming Yang go up and down completely randomly.
Pair Corralation between Cicc Fund and Ming Yang
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.47 times more return on investment than Ming Yang. However, Cicc Fund Management is 2.11 times less risky than Ming Yang. It trades about 0.0 of its potential returns per unit of risk. Ming Yang Smart is currently generating about -0.05 per unit of risk. If you would invest 242.00 in Cicc Fund Management on September 28, 2024 and sell it today you would lose (8.00) from holding Cicc Fund Management or give up 3.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 75.31% |
| Values | Daily Returns |
Cicc Fund Management vs. Ming Yang Smart
Performance |
| Timeline |
| Cicc Fund Management |
| Ming Yang Smart |
Cicc Fund and Ming Yang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Ming Yang
The main advantage of trading using opposite Cicc Fund and Ming Yang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Ming Yang 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 Ming Yang will offset losses from the drop in Ming Yang'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 |
| Ming Yang vs. Cicc Fund Management | Ming Yang vs. UE Furniture Co | Ming Yang vs. Xiamen Goldenhome Co | Ming Yang vs. DO Home Collection |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |