Correlation Between Hainan Mining and Cicc Fund
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By analyzing existing cross correlation between Hainan Mining Co and Cicc Fund Management, you can compare the effects of market volatilities on Hainan Mining 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 Hainan Mining with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hainan Mining and Cicc Fund.
Diversification Opportunities for Hainan Mining and Cicc Fund
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hainan and Cicc is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Hainan Mining 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 Hainan Mining 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 Hainan Mining 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 Hainan Mining i.e., Hainan Mining and Cicc Fund go up and down completely randomly.
Pair Corralation between Hainan Mining and Cicc Fund
Assuming the 90 days trading horizon Hainan Mining Co is expected to generate 4.94 times more return on investment than Cicc Fund. However, Hainan Mining is 4.94 times more volatile than Cicc Fund Management. It trades about 0.16 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.2 per unit of risk. If you would invest 544.00 in Hainan Mining Co on September 2, 2024 and sell it today you would earn a total of 159.00 from holding Hainan Mining Co or generate 29.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hainan Mining Co vs. Cicc Fund Management
Performance |
| Timeline |
| Hainan Mining |
| Cicc Fund Management |
Hainan Mining and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hainan Mining and Cicc Fund
The main advantage of trading using opposite Hainan Mining and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hainan Mining 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.| Hainan Mining vs. Zijin Mining Group | Hainan Mining vs. Wanhua Chemical Group | Hainan Mining vs. Baoshan Iron Steel | Hainan Mining vs. Shandong Gold Mining |
| 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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