Correlation Between Cicc Fund and Harvest Fund
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By analyzing existing cross correlation between Cicc Fund Management and Harvest Fund Management, you can compare the effects of market volatilities on Cicc Fund and Harvest 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 Cicc Fund with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Harvest Fund.
Diversification Opportunities for Cicc Fund and Harvest Fund
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cicc and Harvest is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Cicc Fund i.e., Cicc Fund and Harvest Fund go up and down completely randomly.
Pair Corralation between Cicc Fund and Harvest Fund
Assuming the 90 days trading horizon Cicc Fund Management is expected to generate 0.85 times more return on investment than Harvest Fund. However, Cicc Fund Management is 1.18 times less risky than Harvest Fund. It trades about -0.01 of its potential returns per unit of risk. Harvest Fund Management is currently generating about -0.05 per unit of risk. If you would invest 249.00 in Cicc Fund Management on September 26, 2024 and sell it today you would lose (17.00) from holding Cicc Fund Management or give up 6.83% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Cicc Fund Management vs. Harvest Fund Management
Performance |
Timeline |
Cicc Fund Management |
Harvest Fund Management |
Cicc Fund and Harvest Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and Harvest Fund
The main advantage of trading using opposite Cicc Fund and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Harvest 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 Harvest Fund will offset losses from the drop in Harvest Fund'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 |
Harvest Fund vs. King Strong New Material | Harvest Fund vs. Suzhou Douson Drilling | Harvest Fund vs. Hangzhou Gaoxin Rubber | Harvest Fund vs. Inspur Software Co |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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