Correlation Between Cicc Fund and Xinhua Winshare
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By analyzing existing cross correlation between Cicc Fund Management and Xinhua Winshare Publishing, you can compare the effects of market volatilities on Cicc Fund and Xinhua Winshare 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 Xinhua Winshare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Xinhua Winshare.
Diversification Opportunities for Cicc Fund and Xinhua Winshare
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cicc and Xinhua is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Xinhua Winshare Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xinhua Winshare Publ 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 Xinhua Winshare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xinhua Winshare Publ has no effect on the direction of Cicc Fund i.e., Cicc Fund and Xinhua Winshare go up and down completely randomly.
Pair Corralation between Cicc Fund and Xinhua Winshare
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Xinhua Winshare. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 3.42 times less risky than Xinhua Winshare. The stock trades about -0.41 of its potential returns per unit of risk. The Xinhua Winshare Publishing is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 1,392 in Xinhua Winshare Publishing on September 2, 2024 and sell it today you would earn a total of 66.00 from holding Xinhua Winshare Publishing or generate 4.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Xinhua Winshare Publishing
Performance |
| Timeline |
| Cicc Fund Management |
| Xinhua Winshare Publ |
Cicc Fund and Xinhua Winshare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Xinhua Winshare
The main advantage of trading using opposite Cicc Fund and Xinhua Winshare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Xinhua Winshare 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 Xinhua Winshare will offset losses from the drop in Xinhua Winshare'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 |
| Xinhua Winshare vs. Hubei Huaqiang High Tech | Xinhua Winshare vs. Hainan Haiqi Transportation | Xinhua Winshare vs. Keli Sensing Technology | Xinhua Winshare vs. Zhongshan Broad Ocean Motor |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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