Correlation Between Xinhua Winshare and Cicc Fund
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By analyzing existing cross correlation between Xinhua Winshare Publishing and Cicc Fund Management, you can compare the effects of market volatilities on Xinhua Winshare 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 Xinhua Winshare with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinhua Winshare and Cicc Fund.
Diversification Opportunities for Xinhua Winshare and Cicc Fund
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Xinhua and Cicc is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Xinhua Winshare Publishing 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 Xinhua Winshare 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 Xinhua Winshare Publishing 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 Xinhua Winshare i.e., Xinhua Winshare and Cicc Fund go up and down completely randomly.
Pair Corralation between Xinhua Winshare and Cicc Fund
Assuming the 90 days trading horizon Xinhua Winshare is expected to generate 1.6 times less return on investment than Cicc Fund. In addition to that, Xinhua Winshare is 1.87 times more volatile than Cicc Fund Management. It trades about 0.02 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.05 per unit of volatility. If you would invest 197.00 in Cicc Fund Management on September 3, 2024 and sell it today you would earn a total of 27.00 from holding Cicc Fund Management or generate 13.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xinhua Winshare Publishing vs. Cicc Fund Management
Performance |
| Timeline |
| Xinhua Winshare Publ |
| Cicc Fund Management |
Xinhua Winshare and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinhua Winshare and Cicc Fund
The main advantage of trading using opposite Xinhua Winshare and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinhua Winshare 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.| Xinhua Winshare vs. Xiangtan Electrochemical Scientific | Xinhua Winshare vs. Yangmei Chemical Co | Xinhua Winshare vs. Wuxi Chemical Equipment | Xinhua Winshare vs. Dymatic Chemicals |
| Cicc Fund vs. Sinofibers Technology Co | Cicc Fund vs. Northking Information Technology | Cicc Fund vs. Guangdong Jingyi Metal | Cicc Fund vs. Kangping Technology Co |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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