Correlation Between CICC Fund and Hunan Mendale
Specify exactly 2 symbols:
By analyzing existing cross correlation between CICC Fund Management and Hunan Mendale Hometextile, you can compare the effects of market volatilities on CICC Fund and Hunan Mendale 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 Hunan Mendale. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Hunan Mendale.
Diversification Opportunities for CICC Fund and Hunan Mendale
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CICC and Hunan is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Hunan Mendale Hometextile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunan Mendale Hometextile 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 Hunan Mendale. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunan Mendale Hometextile has no effect on the direction of CICC Fund i.e., CICC Fund and Hunan Mendale go up and down completely randomly.
Pair Corralation between CICC Fund and Hunan Mendale
Assuming the 90 days trading horizon CICC Fund is expected to generate 2.41 times less return on investment than Hunan Mendale. But when comparing it to its historical volatility, CICC Fund Management is 2.55 times less risky than Hunan Mendale. It trades about 0.31 of its potential returns per unit of risk. Hunan Mendale Hometextile is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 283.00 in Hunan Mendale Hometextile on September 13, 2024 and sell it today you would earn a total of 58.00 from holding Hunan Mendale Hometextile or generate 20.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
CICC Fund Management vs. Hunan Mendale Hometextile
Performance |
| Timeline |
| CICC Fund Management |
| Hunan Mendale Hometextile |
CICC Fund and Hunan Mendale Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Hunan Mendale
The main advantage of trading using opposite CICC Fund and Hunan Mendale positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Hunan Mendale 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 Hunan Mendale will offset losses from the drop in Hunan Mendale's long position.| CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited | CICC Fund vs. China Construction Bank |
| Hunan Mendale vs. Nanjing Putian Telecommunications | Hunan Mendale vs. Tianjin Realty Development | Hunan Mendale vs. Kangyue Technology Co | Hunan Mendale vs. Shenzhen Hifuture Electric |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |