Correlation Between Agricultural Bank and Cicc Fund
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By analyzing existing cross correlation between Agricultural Bank of and Cicc Fund Management, you can compare the effects of market volatilities on Agricultural Bank 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 Agricultural Bank with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Cicc Fund.
Diversification Opportunities for Agricultural Bank and Cicc Fund
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Agricultural and Cicc is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of 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 Agricultural Bank 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 Agricultural Bank of 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 Agricultural Bank i.e., Agricultural Bank and Cicc Fund go up and down completely randomly.
Pair Corralation between Agricultural Bank and Cicc Fund
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 1.12 times more return on investment than Cicc Fund. However, Agricultural Bank is 1.12 times more volatile than Cicc Fund Management. It trades about 0.1 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.01 per unit of risk. If you would invest 271.00 in Agricultural Bank of on August 30, 2024 and sell it today you would earn a total of 212.00 from holding Agricultural Bank of or generate 78.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 71.01% |
| Values | Daily Returns |
Agricultural Bank of vs. Cicc Fund Management
Performance |
| Timeline |
| Agricultural Bank |
| Cicc Fund Management |
Agricultural Bank and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Cicc Fund
The main advantage of trading using opposite Agricultural Bank and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank 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.| Agricultural Bank vs. Sinofibers Technology Co | Agricultural Bank vs. Anhui Jianghuai Automobile | Agricultural Bank vs. Uxi Unicomp Technology | Agricultural Bank vs. Jiujiang Shanshui 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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