Correlation Between Anhui Jianghuai and Cicc Fund
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By analyzing existing cross correlation between Anhui Jianghuai Automobile and Cicc Fund Management, you can compare the effects of market volatilities on Anhui Jianghuai 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 Anhui Jianghuai with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Jianghuai and Cicc Fund.
Diversification Opportunities for Anhui Jianghuai and Cicc Fund
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anhui and Cicc is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Jianghuai Automobile 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 Anhui Jianghuai 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 Anhui Jianghuai Automobile 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 Anhui Jianghuai i.e., Anhui Jianghuai and Cicc Fund go up and down completely randomly.
Pair Corralation between Anhui Jianghuai and Cicc Fund
Assuming the 90 days trading horizon Anhui Jianghuai is expected to generate 1.08 times less return on investment than Cicc Fund. In addition to that, Anhui Jianghuai is 3.01 times more volatile than Cicc Fund Management. It trades about 0.11 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.35 per unit of volatility. If you would invest 229.00 in Cicc Fund Management on October 25, 2024 and sell it today you would earn a total of 17.00 from holding Cicc Fund Management or generate 7.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Jianghuai Automobile vs. Cicc Fund Management
Performance |
| Timeline |
| Anhui Jianghuai Auto |
| Cicc Fund Management |
Anhui Jianghuai and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Jianghuai and Cicc Fund
The main advantage of trading using opposite Anhui Jianghuai and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Jianghuai 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.| Anhui Jianghuai vs. PetroChina Co Ltd | Anhui Jianghuai vs. Gansu Jiu Steel | Anhui Jianghuai vs. Ming Yang Smart | Anhui Jianghuai vs. Aba Chemicals Corp |
| 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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