Correlation Between Cicc Fund and HanS Laser
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By analyzing existing cross correlation between Cicc Fund Management and HanS Laser Tech, you can compare the effects of market volatilities on Cicc Fund and HanS Laser 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 Cicc Fund with a short position of HanS Laser. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and HanS Laser.
Diversification Opportunities for Cicc Fund and HanS Laser
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cicc and HanS is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and HanS Laser Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HanS Laser Tech and Cicc Fund 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 Cicc Fund Management are associated (or correlated) with HanS Laser. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HanS Laser Tech has no effect on the direction of Cicc Fund i.e., Cicc Fund and HanS Laser go up and down completely randomly.
Pair Corralation between Cicc Fund and HanS Laser
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the HanS Laser. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 2.08 times less risky than HanS Laser. The stock trades about -0.01 of its potential returns per unit of risk. The HanS Laser Tech is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 2,301 in HanS Laser Tech on September 26, 2024 and sell it today you would earn a total of 298.00 from holding HanS Laser Tech or generate 12.95% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Cicc Fund Management vs. HanS Laser Tech
Performance |
Timeline |
Cicc Fund Management |
HanS Laser Tech |
Cicc Fund and HanS Laser Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and HanS Laser
The main advantage of trading using opposite Cicc Fund and HanS Laser positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, HanS Laser 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 HanS Laser will offset losses from the drop in HanS Laser's long position.Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
HanS Laser vs. Bank of China | HanS Laser vs. Kweichow Moutai Co | HanS Laser vs. PetroChina Co Ltd | HanS Laser vs. Bank of Communications |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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