Correlation Between Rising Nonferrous and Cicc Fund
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By analyzing existing cross correlation between Rising Nonferrous Metals and Cicc Fund Management, you can compare the effects of market volatilities on Rising Nonferrous 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 Rising Nonferrous with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rising Nonferrous and Cicc Fund.
Diversification Opportunities for Rising Nonferrous and Cicc Fund
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Rising and Cicc is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Rising Nonferrous Metals 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 Rising Nonferrous 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 Rising Nonferrous Metals 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 Rising Nonferrous i.e., Rising Nonferrous and Cicc Fund go up and down completely randomly.
Pair Corralation between Rising Nonferrous and Cicc Fund
Assuming the 90 days trading horizon Rising Nonferrous Metals is expected to generate 5.58 times more return on investment than Cicc Fund. However, Rising Nonferrous is 5.58 times more volatile than Cicc Fund Management. It trades about 0.09 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.09 per unit of risk. If you would invest 2,886 in Rising Nonferrous Metals on August 25, 2024 and sell it today you would earn a total of 166.00 from holding Rising Nonferrous Metals or generate 5.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rising Nonferrous Metals vs. Cicc Fund Management
Performance |
| Timeline |
| Rising Nonferrous Metals |
| Cicc Fund Management |
Rising Nonferrous and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rising Nonferrous and Cicc Fund
The main advantage of trading using opposite Rising Nonferrous and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rising Nonferrous 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.| Rising Nonferrous vs. Zijin Mining Group | Rising Nonferrous vs. Wanhua Chemical Group | Rising Nonferrous vs. Baoshan Iron Steel | Rising Nonferrous vs. Shandong Gold Mining |
| Cicc Fund vs. Tongling Nonferrous Metals | Cicc Fund vs. Shandong Hongchuang Aluminum | Cicc Fund vs. Zhejiang Yongjin Metal | Cicc Fund vs. Ye Chiu Metal |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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