Correlation Between State Grid and Cicc Fund
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By analyzing existing cross correlation between State Grid InformationCommunication and Cicc Fund Management, you can compare the effects of market volatilities on State Grid and Cicc Fund 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 State Grid with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of State Grid and Cicc Fund.
Diversification Opportunities for State Grid and Cicc Fund
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between State and Cicc is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding State Grid InformationCommunic and Cicc Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cicc Fund Management and State Grid 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 State Grid InformationCommunication are associated (or correlated) with Cicc Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cicc Fund Management has no effect on the direction of State Grid i.e., State Grid and Cicc Fund go up and down completely randomly.
Pair Corralation between State Grid and Cicc Fund
Assuming the 90 days trading horizon State Grid InformationCommunication is expected to under-perform the Cicc Fund. In addition to that, State Grid is 1.73 times more volatile than Cicc Fund Management. It trades about -0.22 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.37 per unit of volatility. If you would invest 227.00 in Cicc Fund Management on October 24, 2024 and sell it today you would earn a total of 18.00 from holding Cicc Fund Management or generate 7.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
State Grid InformationCommunic vs. Cicc Fund Management
Performance |
| Timeline |
| State Grid Informati |
| Cicc Fund Management |
State Grid and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with State Grid and Cicc Fund
The main advantage of trading using opposite State Grid and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if State Grid position performs unexpectedly, Cicc Fund 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 Cicc Fund will offset losses from the drop in Cicc Fund's long position.| State Grid vs. Senci Electric Machinery | State Grid vs. Zhongshan Public Utilities | State Grid vs. Fujian Oriental Silver | State Grid vs. JCHX Mining Management |
| Cicc Fund vs. Xinjiang Sailing Information | Cicc Fund vs. Guangzhou Ruoyuchen Information | Cicc Fund vs. State Grid InformationCommunication | Cicc Fund vs. Anji Foodstuff Co |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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