Correlation Between Chinese Universe and Cicc Fund
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By analyzing existing cross correlation between Chinese Universe Publishing and Cicc Fund Management, you can compare the effects of market volatilities on Chinese Universe 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 Chinese Universe with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chinese Universe and Cicc Fund.
Diversification Opportunities for Chinese Universe and Cicc Fund
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Chinese and Cicc is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Chinese Universe Publishing 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 Chinese Universe 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 Chinese Universe Publishing 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 Chinese Universe i.e., Chinese Universe and Cicc Fund go up and down completely randomly.
Pair Corralation between Chinese Universe and Cicc Fund
Assuming the 90 days trading horizon Chinese Universe Publishing is expected to generate 2.95 times more return on investment than Cicc Fund. However, Chinese Universe is 2.95 times more volatile than Cicc Fund Management. It trades about 0.05 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.41 per unit of risk. If you would invest 1,243 in Chinese Universe Publishing on September 2, 2024 and sell it today you would earn a total of 17.00 from holding Chinese Universe Publishing or generate 1.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chinese Universe Publishing vs. Cicc Fund Management
Performance |
| Timeline |
| Chinese Universe Pub |
| Cicc Fund Management |
Chinese Universe and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chinese Universe and Cicc Fund
The main advantage of trading using opposite Chinese Universe and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chinese Universe 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.| Chinese Universe vs. Hunan TV Broadcast | Chinese Universe vs. Jiangsu Jinling Sports | Chinese Universe vs. Longjian Road Bridge | Chinese Universe vs. Shenzhen AV Display Co |
| Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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