Correlation Between CICC Fund and Beijing Bewinner
Specify exactly 2 symbols:
By analyzing existing cross correlation between CICC Fund Management and Beijing Bewinner Communications, you can compare the effects of market volatilities on CICC Fund and Beijing Bewinner 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 Beijing Bewinner. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Beijing Bewinner.
Diversification Opportunities for CICC Fund and Beijing Bewinner
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CICC and Beijing is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Beijing Bewinner Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Bewinner Com 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 Beijing Bewinner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Bewinner Com has no effect on the direction of CICC Fund i.e., CICC Fund and Beijing Bewinner go up and down completely randomly.
Pair Corralation between CICC Fund and Beijing Bewinner
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.25 times more return on investment than Beijing Bewinner. However, CICC Fund Management is 3.93 times less risky than Beijing Bewinner. It trades about 0.12 of its potential returns per unit of risk. Beijing Bewinner Communications is currently generating about 0.02 per unit of risk. If you would invest 266.00 in CICC Fund Management on October 16, 2024 and sell it today you would earn a total of 114.00 from holding CICC Fund Management or generate 42.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Beijing Bewinner Communication
Performance |
| Timeline |
| CICC Fund Management |
| Beijing Bewinner Com |
CICC Fund and Beijing Bewinner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Beijing Bewinner
The main advantage of trading using opposite CICC Fund and Beijing Bewinner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Beijing Bewinner 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 Beijing Bewinner will offset losses from the drop in Beijing Bewinner's long position.| CICC Fund vs. Xiangyang Automobile Bearing | CICC Fund vs. Guangzhou Restaurants Group | CICC Fund vs. Guangdong Shenglu Telecommunication | CICC Fund vs. Emdoor Information Co |
| Beijing Bewinner vs. Hygon Information Technology | Beijing Bewinner vs. Emdoor Information Co | Beijing Bewinner vs. Sublime China Information | Beijing Bewinner vs. Goodwill E Health |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |