Correlation Between Anji Foodstuff and Cicc Fund
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By analyzing existing cross correlation between Anji Foodstuff Co and Cicc Fund Management, you can compare the effects of market volatilities on Anji Foodstuff 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 Anji Foodstuff with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Cicc Fund.
Diversification Opportunities for Anji Foodstuff and Cicc Fund
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anji and Cicc is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff 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 Anji Foodstuff 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 Anji Foodstuff 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 Anji Foodstuff i.e., Anji Foodstuff and Cicc Fund go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Cicc Fund
Assuming the 90 days trading horizon Anji Foodstuff is expected to generate 19.92 times less return on investment than Cicc Fund. In addition to that, Anji Foodstuff is 2.97 times more volatile than Cicc Fund Management. It trades about 0.01 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.37 per unit of volatility. If you would invest 227.00 in Cicc Fund Management on October 24, 2024 and sell it today you would earn a total of 18.00 from holding Cicc Fund Management or generate 7.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Cicc Fund Management
Performance |
| Timeline |
| Anji Foodstuff |
| Cicc Fund Management |
Anji Foodstuff and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Cicc Fund
The main advantage of trading using opposite Anji Foodstuff and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff 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.| Anji Foodstuff vs. Sihui Fuji Electronics | Anji Foodstuff vs. Newcapec Electronics Co | Anji Foodstuff vs. Jinling Hotel Corp | Anji Foodstuff vs. Peoples Insurance of |
| Cicc Fund vs. Xinjiang Sailing Information | Cicc Fund vs. Guangzhou Ruoyuchen Information | Cicc Fund vs. State Grid InformationCommunication | Cicc Fund vs. Anji Foodstuff 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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