Correlation Between CICC Fund and Jiangsu Jinling
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By analyzing existing cross correlation between CICC Fund Management and Jiangsu Jinling Sports, you can compare the effects of market volatilities on CICC Fund and Jiangsu Jinling 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 Jinling. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Jiangsu Jinling.
Diversification Opportunities for CICC Fund and Jiangsu Jinling
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CICC and Jiangsu is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Jiangsu Jinling Sports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jinling Sports 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 Jinling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jinling Sports has no effect on the direction of CICC Fund i.e., CICC Fund and Jiangsu Jinling go up and down completely randomly.
Pair Corralation between CICC Fund and Jiangsu Jinling
Assuming the 90 days trading horizon CICC Fund is expected to generate 1.3 times less return on investment than Jiangsu Jinling. But when comparing it to its historical volatility, CICC Fund Management is 3.12 times less risky than Jiangsu Jinling. It trades about 0.17 of its potential returns per unit of risk. Jiangsu Jinling Sports is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,375 in Jiangsu Jinling Sports on August 28, 2024 and sell it today you would earn a total of 44.00 from holding Jiangsu Jinling Sports or generate 3.2% 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 Jinling Sports
Performance |
| Timeline |
| CICC Fund Management |
| Jiangsu Jinling Sports |
CICC Fund and Jiangsu Jinling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Jiangsu Jinling
The main advantage of trading using opposite CICC Fund and Jiangsu Jinling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Jiangsu Jinling 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 Jinling will offset losses from the drop in Jiangsu Jinling'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 |
| Jiangsu Jinling vs. Shenzhen MYS Environmental | Jiangsu Jinling vs. AVIC Fund Management | Jiangsu Jinling vs. Shenzhen Bingchuan Network | Jiangsu Jinling vs. Penghua Shenzhen Energy |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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