Correlation Between CICT Mobile and F5 Networks
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By analyzing existing cross correlation between CICT Mobile Communication and F5 Networks, you can compare the effects of market volatilities on CICT Mobile and F5 Networks 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 F5 Networks. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICT Mobile and F5 Networks.
Diversification Opportunities for CICT Mobile and F5 Networks
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CICT and FFIV is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding CICT Mobile Communication and F5 Networks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on F5 Networks 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 F5 Networks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of F5 Networks has no effect on the direction of CICT Mobile i.e., CICT Mobile and F5 Networks go up and down completely randomly.
Pair Corralation between CICT Mobile and F5 Networks
Assuming the 90 days trading horizon CICT Mobile is expected to generate 2.19 times less return on investment than F5 Networks. In addition to that, CICT Mobile is 1.18 times more volatile than F5 Networks. It trades about 0.09 of its total potential returns per unit of risk. F5 Networks is currently generating about 0.23 per unit of volatility. If you would invest 21,706 in F5 Networks on August 23, 2024 and sell it today you would earn a total of 2,723 from holding F5 Networks or generate 12.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CICT Mobile Communication vs. F5 Networks
Performance |
| Timeline |
| CICT Mobile Communication |
| F5 Networks |
CICT Mobile and F5 Networks Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CICT Mobile and F5 Networks
The main advantage of trading using opposite CICT Mobile and F5 Networks positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICT Mobile position performs unexpectedly, F5 Networks 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 F5 Networks will offset losses from the drop in F5 Networks' long position.| CICT Mobile vs. BeiGene | CICT Mobile vs. Kweichow Moutai Co | CICT Mobile vs. Beijing Roborock Technology | CICT Mobile vs. G bits Network Technology |
| F5 Networks vs. VeriSign | F5 Networks vs. Check Point Software | F5 Networks vs. Qualys Inc | F5 Networks vs. CyberArk Software |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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