Correlation Between CICT Mobile and Cicc Fund
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By analyzing existing cross correlation between CICT Mobile Communication and Cicc Fund Management, you can compare the effects of market volatilities on CICT Mobile 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 CICT Mobile with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICT Mobile and Cicc Fund.
Diversification Opportunities for CICT Mobile and Cicc Fund
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CICT and Cicc is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding CICT Mobile 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 CICT Mobile 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 CICT Mobile 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 CICT Mobile i.e., CICT Mobile and Cicc Fund go up and down completely randomly.
Pair Corralation between CICT Mobile and Cicc Fund
Assuming the 90 days trading horizon CICT Mobile Communication is expected to generate 2.36 times more return on investment than Cicc Fund. However, CICT Mobile is 2.36 times more volatile than Cicc Fund Management. It trades about 0.03 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.01 per unit of risk. If you would invest 548.00 in CICT Mobile Communication on August 24, 2024 and sell it today you would earn a total of 93.00 from holding CICT Mobile Communication or generate 16.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 70.23% |
| Values | Daily Returns |
CICT Mobile Communication vs. Cicc Fund Management
Performance |
| Timeline |
| CICT Mobile Communication |
| Cicc Fund Management |
CICT Mobile and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICT Mobile and Cicc Fund
The main advantage of trading using opposite CICT Mobile and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICT Mobile 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.| CICT Mobile vs. Ming Yang Smart | CICT Mobile vs. 159005 | CICT Mobile vs. Loctek Ergonomic Technology | CICT Mobile vs. Xiamen East Asia |
| Cicc Fund vs. China Sports Industry | Cicc Fund vs. Changchun Faway Automobile | Cicc Fund vs. Innovative Medical Management | Cicc Fund vs. CICT Mobile Communication |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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