Correlation Between CICC Fund and Jiujiang Shanshui
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By analyzing existing cross correlation between CICC Fund Management and Jiujiang Shanshui Technology, you can compare the effects of market volatilities on CICC Fund and Jiujiang Shanshui 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 Jiujiang Shanshui. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Jiujiang Shanshui.
Diversification Opportunities for CICC Fund and Jiujiang Shanshui
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CICC and Jiujiang is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Jiujiang Shanshui Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiujiang Shanshui 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 Jiujiang Shanshui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiujiang Shanshui has no effect on the direction of CICC Fund i.e., CICC Fund and Jiujiang Shanshui go up and down completely randomly.
Pair Corralation between CICC Fund and Jiujiang Shanshui
Assuming the 90 days trading horizon CICC Fund is expected to generate 2.25 times less return on investment than Jiujiang Shanshui. But when comparing it to its historical volatility, CICC Fund Management is 1.93 times less risky than Jiujiang Shanshui. It trades about 0.14 of its potential returns per unit of risk. Jiujiang Shanshui Technology is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,488 in Jiujiang Shanshui Technology on November 5, 2024 and sell it today you would earn a total of 52.00 from holding Jiujiang Shanshui Technology or generate 3.49% 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. Jiujiang Shanshui Technology
Performance |
| Timeline |
| CICC Fund Management |
| Jiujiang Shanshui |
CICC Fund and Jiujiang Shanshui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Jiujiang Shanshui
The main advantage of trading using opposite CICC Fund and Jiujiang Shanshui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Jiujiang Shanshui 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 Jiujiang Shanshui will offset losses from the drop in Jiujiang Shanshui'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 |
| Jiujiang Shanshui vs. Zoje Resources Investment | Jiujiang Shanshui vs. Tianjin Ruixin Technology | Jiujiang Shanshui vs. Nuode Investment Co | Jiujiang Shanshui vs. Henan Shuanghui Investment |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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