Correlation Between CICC Fund and Goodwill E
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By analyzing existing cross correlation between CICC Fund Management and Goodwill E Health, you can compare the effects of market volatilities on CICC Fund and Goodwill E 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 Goodwill E. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Goodwill E.
Diversification Opportunities for CICC Fund and Goodwill E
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CICC and Goodwill is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Goodwill E Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goodwill E Health 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 Goodwill E. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goodwill E Health has no effect on the direction of CICC Fund i.e., CICC Fund and Goodwill E go up and down completely randomly.
Pair Corralation between CICC Fund and Goodwill E
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.23 times more return on investment than Goodwill E. However, CICC Fund Management is 4.32 times less risky than Goodwill E. It trades about 0.08 of its potential returns per unit of risk. Goodwill E Health is currently generating about -0.01 per unit of risk. If you would invest 282.00 in CICC Fund Management on November 2, 2024 and sell it today you would earn a total of 108.00 from holding CICC Fund Management or generate 38.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICC Fund Management vs. Goodwill E Health
Performance |
| Timeline |
| CICC Fund Management |
| Goodwill E Health |
CICC Fund and Goodwill E Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Goodwill E
The main advantage of trading using opposite CICC Fund and Goodwill E positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Goodwill E 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 Goodwill E will offset losses from the drop in Goodwill E'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 |
| Goodwill E vs. Anhui Transport Consulting | Goodwill E vs. Western Metal Materials | Goodwill E vs. Yingde Greatchem Chemicals | Goodwill E vs. Dymatic Chemicals |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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