Correlation Between CICC Fund and Shanghai CEO
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By analyzing existing cross correlation between CICC Fund Management and Shanghai CEO Environmental, you can compare the effects of market volatilities on CICC Fund and Shanghai CEO 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 Shanghai CEO. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Shanghai CEO.
Diversification Opportunities for CICC Fund and Shanghai CEO
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CICC and Shanghai is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Shanghai CEO Environmental in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai CEO Environ 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 Shanghai CEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai CEO Environ has no effect on the direction of CICC Fund i.e., CICC Fund and Shanghai CEO go up and down completely randomly.
Pair Corralation between CICC Fund and Shanghai CEO
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.53 times more return on investment than Shanghai CEO. However, CICC Fund Management is 1.9 times less risky than Shanghai CEO. It trades about 0.35 of its potential returns per unit of risk. Shanghai CEO Environmental is currently generating about -0.15 per unit of risk. If you would invest 327.00 in CICC Fund Management on October 30, 2024 and sell it today you would earn a total of 63.00 from holding CICC Fund Management or generate 19.27% 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. Shanghai CEO Environmental
Performance |
| Timeline |
| CICC Fund Management |
| Shanghai CEO Environ |
CICC Fund and Shanghai CEO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICC Fund and Shanghai CEO
The main advantage of trading using opposite CICC Fund and Shanghai CEO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Shanghai CEO 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 Shanghai CEO will offset losses from the drop in Shanghai CEO'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 |
| Shanghai CEO vs. China Petroleum Chemical | Shanghai CEO vs. PetroChina Co Ltd | Shanghai CEO vs. China State Construction | Shanghai CEO vs. China Railway Group |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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