Correlation Between Southern PublishingMedia and Cicc Fund
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By analyzing existing cross correlation between Southern PublishingMedia Co and Cicc Fund Management, you can compare the effects of market volatilities on Southern PublishingMedia 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 Southern PublishingMedia with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southern PublishingMedia and Cicc Fund.
Diversification Opportunities for Southern PublishingMedia and Cicc Fund
-0.86 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Southern and Cicc is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding Southern PublishingMedia Co 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 Southern PublishingMedia 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 Southern PublishingMedia Co 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 Southern PublishingMedia i.e., Southern PublishingMedia and Cicc Fund go up and down completely randomly.
Pair Corralation between Southern PublishingMedia and Cicc Fund
Assuming the 90 days trading horizon Southern PublishingMedia Co is expected to generate 7.17 times more return on investment than Cicc Fund. However, Southern PublishingMedia is 7.17 times more volatile than Cicc Fund Management. It trades about 0.14 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.41 per unit of risk. If you would invest 1,368 in Southern PublishingMedia Co on September 2, 2024 and sell it today you would earn a total of 135.00 from holding Southern PublishingMedia Co or generate 9.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Southern PublishingMedia Co vs. Cicc Fund Management
Performance |
| Timeline |
| Southern PublishingMedia |
| Cicc Fund Management |
Southern PublishingMedia and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Southern PublishingMedia and Cicc Fund
The main advantage of trading using opposite Southern PublishingMedia and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southern PublishingMedia 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.The idea behind Southern PublishingMedia Co and Cicc Fund Management pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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