Correlation Between CICC Fund and Xiangpiaopiao Food
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By analyzing existing cross correlation between CICC Fund Management and Xiangpiaopiao Food Co, you can compare the effects of market volatilities on CICC Fund and Xiangpiaopiao Food 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 Xiangpiaopiao Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Xiangpiaopiao Food.
Diversification Opportunities for CICC Fund and Xiangpiaopiao Food
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CICC and Xiangpiaopiao is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Xiangpiaopiao Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiangpiaopiao Food 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 Xiangpiaopiao Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiangpiaopiao Food has no effect on the direction of CICC Fund i.e., CICC Fund and Xiangpiaopiao Food go up and down completely randomly.
Pair Corralation between CICC Fund and Xiangpiaopiao Food
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.23 times more return on investment than Xiangpiaopiao Food. However, CICC Fund Management is 4.43 times less risky than Xiangpiaopiao Food. It trades about 0.31 of its potential returns per unit of risk. Xiangpiaopiao Food Co is currently generating about 0.04 per unit of risk. If you would invest 314.00 in CICC Fund Management on October 26, 2024 and sell it today you would earn a total of 76.00 from holding CICC Fund Management or generate 24.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Xiangpiaopiao Food Co
Performance |
| Timeline |
| CICC Fund Management |
| Xiangpiaopiao Food |
CICC Fund and Xiangpiaopiao Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Xiangpiaopiao Food
The main advantage of trading using opposite CICC Fund and Xiangpiaopiao Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Xiangpiaopiao Food 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 Xiangpiaopiao Food will offset losses from the drop in Xiangpiaopiao Food'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 |
| Xiangpiaopiao Food vs. Kweichow Moutai Co | Xiangpiaopiao Food vs. Contemporary Amperex Technology | Xiangpiaopiao Food vs. G bits Network Technology | Xiangpiaopiao Food vs. Beijing Roborock Technology |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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