Correlation Between China Aluminum and Cicc Fund
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By analyzing existing cross correlation between China Aluminum International and Cicc Fund Management, you can compare the effects of market volatilities on China Aluminum 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 China Aluminum with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Aluminum and Cicc Fund.
Diversification Opportunities for China Aluminum and Cicc Fund
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Cicc is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding China Aluminum International 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 China Aluminum 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 China Aluminum International 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 China Aluminum i.e., China Aluminum and Cicc Fund go up and down completely randomly.
Pair Corralation between China Aluminum and Cicc Fund
Assuming the 90 days trading horizon China Aluminum International is expected to under-perform the Cicc Fund. In addition to that, China Aluminum is 2.93 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 -0.14 per unit of volatility. If you would invest 230.00 in Cicc Fund Management on August 27, 2024 and sell it today you would lose (4.00) from holding Cicc Fund Management or give up 1.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Aluminum International vs. Cicc Fund Management
Performance |
| Timeline |
| China Aluminum Inter |
| Cicc Fund Management |
China Aluminum and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Aluminum and Cicc Fund
The main advantage of trading using opposite China Aluminum and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Aluminum 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.| China Aluminum vs. Ming Yang Smart | China Aluminum vs. 159681 | China Aluminum vs. 159005 | China Aluminum vs. Loctek Ergonomic Technology |
| 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 Transaction History module to view history of all your transactions and understand their impact on performance.
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