Correlation Between Dr Peng and Cicc Fund
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By analyzing existing cross correlation between Dr Peng Telecom and Cicc Fund Management, you can compare the effects of market volatilities on Dr Peng 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 Dr Peng with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dr Peng and Cicc Fund.
Diversification Opportunities for Dr Peng and Cicc Fund
Excellent diversification
The 3 months correlation between 600804 and Cicc is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Dr Peng Telecom 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 Dr Peng 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 Dr Peng Telecom 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 Dr Peng i.e., Dr Peng and Cicc Fund go up and down completely randomly.
Pair Corralation between Dr Peng and Cicc Fund
Assuming the 90 days trading horizon Dr Peng Telecom is expected to generate 8.33 times more return on investment than Cicc Fund. However, Dr Peng is 8.33 times more volatile than Cicc Fund Management. It trades about 0.42 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.52 per unit of risk. If you would invest 150.00 in Dr Peng Telecom on September 4, 2024 and sell it today you would earn a total of 64.00 from holding Dr Peng Telecom or generate 42.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dr Peng Telecom vs. Cicc Fund Management
Performance |
| Timeline |
| Dr Peng Telecom |
| Cicc Fund Management |
Dr Peng and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dr Peng and Cicc Fund
The main advantage of trading using opposite Dr Peng and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dr Peng 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.| Dr Peng vs. Cicc Fund Management | Dr Peng vs. Huaxia Fund Management | Dr Peng vs. Jiangsu GDK Biotechnology | Dr Peng vs. CSSC Offshore Marine |
| 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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