Correlation Between Rush Street and CICC Fund
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By analyzing existing cross correlation between Rush Street Interactive and CICC Fund Management, you can compare the effects of market volatilities on Rush Street 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 Rush Street with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rush Street and CICC Fund.
Diversification Opportunities for Rush Street and CICC Fund
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Rush and CICC is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Rush Street Interactive 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 Rush Street 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 Rush Street Interactive 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 Rush Street i.e., Rush Street and CICC Fund go up and down completely randomly.
Pair Corralation between Rush Street and CICC Fund
Considering the 90-day investment horizon Rush Street Interactive is expected to generate 3.88 times more return on investment than CICC Fund. However, Rush Street is 3.88 times more volatile than CICC Fund Management. It trades about 0.22 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 1,085 in Rush Street Interactive on August 29, 2024 and sell it today you would earn a total of 366.00 from holding Rush Street Interactive or generate 33.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 88.37% |
| Values | Daily Returns |
Rush Street Interactive vs. CICC Fund Management
Performance |
| Timeline |
| Rush Street Interactive |
| CICC Fund Management |
Rush Street and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rush Street and CICC Fund
The main advantage of trading using opposite Rush Street and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rush Street 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.| Rush Street vs. Genius Sports | Rush Street vs. Gan | Rush Street vs. Ballys Corp | Rush Street vs. Hims Hers Health |
| 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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