Correlation Between CICC Fund and Jiangsu Yanghe
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By analyzing existing cross correlation between CICC Fund Management and Jiangsu Yanghe Brewery, you can compare the effects of market volatilities on CICC Fund and Jiangsu Yanghe 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 Jiangsu Yanghe. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Jiangsu Yanghe.
Diversification Opportunities for CICC Fund and Jiangsu Yanghe
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CICC and Jiangsu is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Jiangsu Yanghe Brewery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Yanghe Brewery 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 Jiangsu Yanghe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Yanghe Brewery has no effect on the direction of CICC Fund i.e., CICC Fund and Jiangsu Yanghe go up and down completely randomly.
Pair Corralation between CICC Fund and Jiangsu Yanghe
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.88 times more return on investment than Jiangsu Yanghe. However, CICC Fund Management is 1.13 times less risky than Jiangsu Yanghe. It trades about 0.3 of its potential returns per unit of risk. Jiangsu Yanghe Brewery is currently generating about -0.17 per unit of risk. If you would invest 369.00 in CICC Fund Management on October 24, 2024 and sell it today you would earn a total of 22.00 from holding CICC Fund Management or generate 5.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Jiangsu Yanghe Brewery
Performance |
| Timeline |
| CICC Fund Management |
| Jiangsu Yanghe Brewery |
CICC Fund and Jiangsu Yanghe Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Jiangsu Yanghe
The main advantage of trading using opposite CICC Fund and Jiangsu Yanghe positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Jiangsu Yanghe 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 Jiangsu Yanghe will offset losses from the drop in Jiangsu Yanghe's long position.| CICC Fund vs. ZYF Lopsking Aluminum | CICC Fund vs. Haima Automobile Group | CICC Fund vs. Shandong Longquan Pipeline | CICC Fund vs. Anhui Jianghuai Automobile |
| Jiangsu Yanghe vs. Zhangjiagang Freetrade Science | Jiangsu Yanghe vs. Shuhua Sports Co | Jiangsu Yanghe vs. CICC Fund Management | Jiangsu Yanghe vs. Hubeiyichang Transportation Group |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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