Correlation Between Cicc Fund and Zoy Home
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By analyzing existing cross correlation between Cicc Fund Management and Zoy Home Furnishing, you can compare the effects of market volatilities on Cicc Fund and Zoy Home 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 Zoy Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Zoy Home.
Diversification Opportunities for Cicc Fund and Zoy Home
Good diversification
The 3 months correlation between Cicc and Zoy is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Zoy Home Furnishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoy Home Furnishing 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 Zoy Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoy Home Furnishing has no effect on the direction of Cicc Fund i.e., Cicc Fund and Zoy Home go up and down completely randomly.
Pair Corralation between Cicc Fund and Zoy Home
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.34 times more return on investment than Zoy Home. However, Cicc Fund Management is 2.97 times less risky than Zoy Home. It trades about 0.01 of its potential returns per unit of risk. Zoy Home Furnishing is currently generating about 0.0 per unit of risk. If you would invest 239.00 in Cicc Fund Management on November 30, 2024 and sell it today you would earn a total of 10.00 from holding Cicc Fund Management or generate 4.18% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 83.58% |
Values | Daily Returns |
Cicc Fund Management vs. Zoy Home Furnishing
Performance |
Timeline |
Cicc Fund Management |
Zoy Home Furnishing |
Cicc Fund and Zoy Home Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and Zoy Home
The main advantage of trading using opposite Cicc Fund and Zoy Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Zoy Home 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 Zoy Home will offset losses from the drop in Zoy Home's long position.Cicc Fund vs. Shengtak New Material | ||
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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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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