Correlation Between CITIC Securities and Talkweb Information
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By analyzing existing cross correlation between CITIC Securities Co and Talkweb Information System, you can compare the effects of market volatilities on CITIC Securities and Talkweb Information 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 CITIC Securities with a short position of Talkweb Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIC Securities and Talkweb Information.
Diversification Opportunities for CITIC Securities and Talkweb Information
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between CITIC and Talkweb is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding CITIC Securities Co and Talkweb Information System in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Talkweb Information and CITIC Securities 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 CITIC Securities Co are associated (or correlated) with Talkweb Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Talkweb Information has no effect on the direction of CITIC Securities i.e., CITIC Securities and Talkweb Information go up and down completely randomly.
Pair Corralation between CITIC Securities and Talkweb Information
Assuming the 90 days trading horizon CITIC Securities Co is expected to generate 0.78 times more return on investment than Talkweb Information. However, CITIC Securities Co is 1.28 times less risky than Talkweb Information. It trades about 0.12 of its potential returns per unit of risk. Talkweb Information System is currently generating about -0.1 per unit of risk. If you would invest 2,906 in CITIC Securities Co on September 4, 2024 and sell it today you would earn a total of 221.00 from holding CITIC Securities Co or generate 7.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
CITIC Securities Co vs. Talkweb Information System
Performance |
| Timeline |
| CITIC Securities |
| Talkweb Information |
CITIC Securities and Talkweb Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIC Securities and Talkweb Information
The main advantage of trading using opposite CITIC Securities and Talkweb Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIC Securities position performs unexpectedly, Talkweb Information 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 Talkweb Information will offset losses from the drop in Talkweb Information's long position.| CITIC Securities vs. Unisplendour Corp | CITIC Securities vs. Nancal Energy Saving Tech | CITIC Securities vs. Industrial Bank Co | CITIC Securities vs. Sichuan Teway Food |
| Talkweb Information vs. New China Life | Talkweb Information vs. Ming Yang Smart | Talkweb Information vs. 159681 | Talkweb Information vs. 159005 |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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