Correlation Between CICC Fund and Chongqing Landai
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By analyzing existing cross correlation between CICC Fund Management and Chongqing Landai Powertrain, you can compare the effects of market volatilities on CICC Fund and Chongqing Landai 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 Chongqing Landai. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Chongqing Landai.
Diversification Opportunities for CICC Fund and Chongqing Landai
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CICC and Chongqing is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Chongqing Landai Powertrain in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chongqing Landai Pow 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 Chongqing Landai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chongqing Landai Pow has no effect on the direction of CICC Fund i.e., CICC Fund and Chongqing Landai go up and down completely randomly.
Pair Corralation between CICC Fund and Chongqing Landai
If you would invest 383.00 in CICC Fund Management on November 4, 2024 and sell it today you would earn a total of 7.00 from holding CICC Fund Management or generate 1.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
CICC Fund Management vs. Chongqing Landai Powertrain
Performance |
| Timeline |
| CICC Fund Management |
| Chongqing Landai Pow |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
CICC Fund and Chongqing Landai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Chongqing Landai
The main advantage of trading using opposite CICC Fund and Chongqing Landai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Chongqing Landai 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 Chongqing Landai will offset losses from the drop in Chongqing Landai's long position.| CICC Fund vs. Eyebright Medical Technology | CICC Fund vs. Holitech Technology Co | CICC Fund vs. Chahua Modern Housewares | CICC Fund vs. Montage Technology Co |
| Chongqing Landai vs. YiDong Electronics Technology | Chongqing Landai vs. HaiXin Foods Co | Chongqing Landai vs. Eastroc Beverage Group | Chongqing Landai vs. Jiamei Food Packaging |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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