Correlation Between CICC Fund and G Bits
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By analyzing existing cross correlation between CICC Fund Management and G bits Network Technology, you can compare the effects of market volatilities on CICC Fund and G Bits 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 G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and G Bits.
Diversification Opportunities for CICC Fund and G Bits
Very good diversification
The 3 months correlation between CICC and 603444 is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and G bits Network Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G bits Network 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 G Bits. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G bits Network has no effect on the direction of CICC Fund i.e., CICC Fund and G Bits go up and down completely randomly.
Pair Corralation between CICC Fund and G Bits
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.47 times more return on investment than G Bits. However, CICC Fund Management is 2.13 times less risky than G Bits. It trades about 0.27 of its potential returns per unit of risk. G bits Network Technology is currently generating about 0.07 per unit of risk. If you would invest 328.00 in CICC Fund Management on September 14, 2024 and sell it today you would earn a total of 23.00 from holding CICC Fund Management or generate 7.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. G bits Network Technology
Performance |
| Timeline |
| CICC Fund Management |
| G bits Network |
CICC Fund and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and G Bits
The main advantage of trading using opposite CICC Fund and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, G Bits 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 G Bits will offset losses from the drop in G Bits' long position.| CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited | CICC Fund vs. China Construction Bank |
| G Bits vs. Invengo Information Technology | G Bits vs. GRINM Semiconductor Materials | G Bits vs. GigaDevice SemiconductorBeiji | G Bits vs. Guangzhou Dongfang Hotel |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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