Correlation Between Visa and CICC Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Visa Class A and CICC Fund Management, you can compare the effects of market volatilities on Visa 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 Visa with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and CICC Fund.
Diversification Opportunities for Visa and CICC Fund
Very good diversification
The 3 months correlation between Visa and CICC is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A 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 Visa 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 Visa Class A 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 Visa i.e., Visa and CICC Fund go up and down completely randomly.
Pair Corralation between Visa and CICC Fund
Taking into account the 90-day investment horizon Visa Class A is expected to generate 1.26 times more return on investment than CICC Fund. However, Visa is 1.26 times more volatile than CICC Fund Management. It trades about 0.26 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.0 per unit of risk. If you would invest 27,226 in Visa Class A on August 25, 2024 and sell it today you would earn a total of 3,766 from holding Visa Class A or generate 13.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 88.89% |
| Values | Daily Returns |
Visa Class A vs. CICC Fund Management
Performance |
| Timeline |
| Visa Class A |
| CICC Fund Management |
Visa and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and CICC Fund
The main advantage of trading using opposite Visa and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa 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.| Visa vs. American Express | Visa vs. Morningstar Unconstrained Allocation | Visa vs. Sitka Gold Corp | Visa vs. MSCI ACWI exAUCONSUMER |
| 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |