Correlation Between CICC Fund and Chengdu Spaceon
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By analyzing existing cross correlation between CICC Fund Management and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on CICC Fund and Chengdu Spaceon 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 Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Chengdu Spaceon.
Diversification Opportunities for CICC Fund and Chengdu Spaceon
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CICC and Chengdu is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec 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 Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of CICC Fund i.e., CICC Fund and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between CICC Fund and Chengdu Spaceon
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.32 times more return on investment than Chengdu Spaceon. However, CICC Fund Management is 3.14 times less risky than Chengdu Spaceon. It trades about 0.08 of its potential returns per unit of risk. Chengdu Spaceon Electronics is currently generating about 0.0 per unit of risk. If you would invest 282.00 in CICC Fund Management on November 2, 2024 and sell it today you would earn a total of 108.00 from holding CICC Fund Management or generate 38.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| CICC Fund Management |
| Chengdu Spaceon Elec |
CICC Fund and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Chengdu Spaceon
The main advantage of trading using opposite CICC Fund and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon's long position.| CICC Fund vs. Industrial and Commercial | CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited |
| Chengdu Spaceon vs. Yingde Greatchem Chemicals | Chengdu Spaceon vs. Do Fluoride Chemicals Co | Chengdu Spaceon vs. Eastroc Beverage Group | Chengdu Spaceon vs. New Hope Dairy |
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.
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