Correlation Between TianJin 712 and Cicc Fund
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By analyzing existing cross correlation between TianJin 712 Communication and Cicc Fund Management, you can compare the effects of market volatilities on TianJin 712 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 TianJin 712 with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of TianJin 712 and Cicc Fund.
Diversification Opportunities for TianJin 712 and Cicc Fund
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between TianJin and Cicc is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding TianJin 712 Communication 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 TianJin 712 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 TianJin 712 Communication 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 TianJin 712 i.e., TianJin 712 and Cicc Fund go up and down completely randomly.
Pair Corralation between TianJin 712 and Cicc Fund
Assuming the 90 days trading horizon TianJin 712 Communication is expected to under-perform the Cicc Fund. In addition to that, TianJin 712 is 3.81 times more volatile than Cicc Fund Management. It trades about -0.38 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about 0.58 per unit of volatility. If you would invest 222.00 in Cicc Fund Management on October 11, 2024 and sell it today you would earn a total of 26.00 from holding Cicc Fund Management or generate 11.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TianJin 712 Communication vs. Cicc Fund Management
Performance |
| Timeline |
| TianJin 712 Communication |
| Cicc Fund Management |
TianJin 712 and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TianJin 712 and Cicc Fund
The main advantage of trading using opposite TianJin 712 and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TianJin 712 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.| TianJin 712 vs. SUNSEA Telecommunications Co | TianJin 712 vs. Weihai Honglin Electronic | TianJin 712 vs. Zhonghang Electronic Measuring | TianJin 712 vs. Songz Automobile Air |
| Cicc Fund vs. Vats Liquor Chain | Cicc Fund vs. TianJin 712 Communication | Cicc Fund vs. Guangzhou Haozhi Industrial | Cicc Fund vs. Guangzhou Dongfang Hotel |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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