Correlation Between CICC Fund and Queclink Wireless
Specify exactly 2 symbols:
By analyzing existing cross correlation between CICC Fund Management and Queclink Wireless Solutions, you can compare the effects of market volatilities on CICC Fund and Queclink Wireless 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 Queclink Wireless. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Queclink Wireless.
Diversification Opportunities for CICC Fund and Queclink Wireless
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between CICC and Queclink is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Queclink Wireless Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Queclink Wireless 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 Queclink Wireless. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Queclink Wireless has no effect on the direction of CICC Fund i.e., CICC Fund and Queclink Wireless go up and down completely randomly.
Pair Corralation between CICC Fund and Queclink Wireless
Assuming the 90 days trading horizon CICC Fund is expected to generate 1.47 times less return on investment than Queclink Wireless. But when comparing it to its historical volatility, CICC Fund Management is 4.28 times less risky than Queclink Wireless. It trades about 0.12 of its potential returns per unit of risk. Queclink Wireless Solutions is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,044 in Queclink Wireless Solutions on October 16, 2024 and sell it today you would earn a total of 365.00 from holding Queclink Wireless Solutions or generate 34.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Queclink Wireless Solutions
Performance |
| Timeline |
| CICC Fund Management |
| Queclink Wireless |
CICC Fund and Queclink Wireless Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Queclink Wireless
The main advantage of trading using opposite CICC Fund and Queclink Wireless positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Queclink Wireless 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 Queclink Wireless will offset losses from the drop in Queclink Wireless' 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 |
| Queclink Wireless vs. Xiangyang Automobile Bearing | Queclink Wireless vs. Haima Automobile Group | Queclink Wireless vs. Beijing Kingsoft Office | Queclink Wireless vs. Wuhan Yangtze Communication |
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.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |