Correlation Between Kweichow Moutai and Cicc Fund
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By analyzing existing cross correlation between Kweichow Moutai Co and Cicc Fund Management, you can compare the effects of market volatilities on Kweichow Moutai 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 Kweichow Moutai with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Cicc Fund.
Diversification Opportunities for Kweichow Moutai and Cicc Fund
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kweichow and Cicc is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai 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 Kweichow Moutai 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 Kweichow Moutai 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 Kweichow Moutai i.e., Kweichow Moutai and Cicc Fund go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Cicc Fund
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to generate 4.56 times more return on investment than Cicc Fund. However, Kweichow Moutai is 4.56 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 -0.19 per unit of risk. If you would invest 144,319 in Kweichow Moutai Co on August 30, 2024 and sell it today you would earn a total of 7,586 from holding Kweichow Moutai Co or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. Cicc Fund Management
Performance |
| Timeline |
| Kweichow Moutai |
| Cicc Fund Management |
Kweichow Moutai and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and Cicc Fund
The main advantage of trading using opposite Kweichow Moutai and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai 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.| Kweichow Moutai vs. PetroChina Co Ltd | Kweichow Moutai vs. China Mobile Limited | Kweichow Moutai vs. Ping An Insurance | Kweichow Moutai vs. China Petroleum Chemical |
| 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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