Correlation Between Industrial and Cicc Fund
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By analyzing existing cross correlation between Industrial and Commercial and Cicc Fund Management, you can compare the effects of market volatilities on Industrial 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 Industrial with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Industrial and Cicc Fund.
Diversification Opportunities for Industrial and Cicc Fund
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Industrial and Cicc is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Industrial and Commercial 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 Industrial 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 Industrial and Commercial 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 Industrial i.e., Industrial and Cicc Fund go up and down completely randomly.
Pair Corralation between Industrial and Cicc Fund
Assuming the 90 days trading horizon Industrial and Commercial is expected to under-perform the Cicc Fund. In addition to that, Industrial is 1.27 times more volatile than Cicc Fund Management. It trades about -0.19 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 Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Industrial and Commercial vs. Cicc Fund Management
Performance |
| Timeline |
| Industrial and Commercial |
| Cicc Fund Management |
Industrial and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Industrial and Cicc Fund
The main advantage of trading using opposite Industrial and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Industrial 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.| Industrial vs. Touchstone International Medical | Industrial vs. Dazhong Transportation Group | Industrial vs. Shenzhen Topway Video | Industrial vs. Allgens Medical 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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