Correlation Between Sinomach Automobile and Cicc Fund
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By analyzing existing cross correlation between Sinomach Automobile Co and Cicc Fund Management, you can compare the effects of market volatilities on Sinomach Automobile 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 Sinomach Automobile with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sinomach Automobile and Cicc Fund.
Diversification Opportunities for Sinomach Automobile and Cicc Fund
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sinomach and Cicc is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Sinomach Automobile Co 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 Sinomach Automobile 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 Sinomach Automobile Co 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 Sinomach Automobile i.e., Sinomach Automobile and Cicc Fund go up and down completely randomly.
Pair Corralation between Sinomach Automobile and Cicc Fund
Assuming the 90 days trading horizon Sinomach Automobile Co is expected to under-perform the Cicc Fund. In addition to that, Sinomach Automobile is 3.72 times more volatile than Cicc Fund Management. It trades about -0.19 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.48 per unit of volatility. If you would invest 223.00 in Cicc Fund Management on October 10, 2024 and sell it today you would earn a total of 20.00 from holding Cicc Fund Management or generate 8.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sinomach Automobile Co vs. Cicc Fund Management
Performance |
| Timeline |
| Sinomach Automobile |
| Cicc Fund Management |
Sinomach Automobile and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sinomach Automobile and Cicc Fund
The main advantage of trading using opposite Sinomach Automobile and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sinomach Automobile 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.| Sinomach Automobile vs. Wuhan Yangtze Communication | Sinomach Automobile vs. Do Fluoride Chemicals Co | Sinomach Automobile vs. Tongyu Communication | Sinomach Automobile vs. MayAir Technology Co |
| Cicc Fund vs. Rising Nonferrous Metals | Cicc Fund vs. Guangdong Jingyi Metal | Cicc Fund vs. Tibet Huayu Mining | Cicc Fund vs. Universal Scientific Industrial |
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 CEOs Directory module to screen CEOs from public companies around the world.
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