Correlation Between Cicc Fund and Olympic Circuit
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By analyzing existing cross correlation between Cicc Fund Management and Olympic Circuit Technology, you can compare the effects of market volatilities on Cicc Fund and Olympic Circuit 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 Olympic Circuit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Olympic Circuit.
Diversification Opportunities for Cicc Fund and Olympic Circuit
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cicc and Olympic is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Olympic Circuit Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Olympic Circuit Tech 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 Olympic Circuit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Olympic Circuit Tech has no effect on the direction of Cicc Fund i.e., Cicc Fund and Olympic Circuit go up and down completely randomly.
Pair Corralation between Cicc Fund and Olympic Circuit
Assuming the 90 days trading horizon Cicc Fund is expected to generate 3.79 times less return on investment than Olympic Circuit. But when comparing it to its historical volatility, Cicc Fund Management is 5.1 times less risky than Olympic Circuit. It trades about 0.16 of its potential returns per unit of risk. Olympic Circuit Technology is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 2,585 in Olympic Circuit Technology on October 26, 2024 and sell it today you would earn a total of 768.00 from holding Olympic Circuit Technology or generate 29.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cicc Fund Management vs. Olympic Circuit Technology
Performance |
| Timeline |
| Cicc Fund Management |
| Olympic Circuit Tech |
Cicc Fund and Olympic Circuit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cicc Fund and Olympic Circuit
The main advantage of trading using opposite Cicc Fund and Olympic Circuit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Olympic Circuit 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 Olympic Circuit will offset losses from the drop in Olympic Circuit's long position.| Cicc Fund vs. Olympic Circuit Technology | Cicc Fund vs. Linewell Software Co | Cicc Fund vs. XinJiang GuoTong Pipeline | Cicc Fund vs. Maxvision Technology Corp |
| Olympic Circuit vs. Chengdu Kanghua Biological | Olympic Circuit vs. Suzhou Novoprotein Scientific | Olympic Circuit vs. Aluminum Corp of | Olympic Circuit vs. COL Digital Publishing |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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