Correlation Between Cicc Fund and Xinya Electronic
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cicc Fund Management and Xinya Electronic Co, you can compare the effects of market volatilities on Cicc Fund and Xinya Electronic 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 Xinya Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Xinya Electronic.
Diversification Opportunities for Cicc Fund and Xinya Electronic
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cicc and Xinya is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Xinya Electronic Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xinya Electronic 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 Xinya Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xinya Electronic has no effect on the direction of Cicc Fund i.e., Cicc Fund and Xinya Electronic go up and down completely randomly.
Pair Corralation between Cicc Fund and Xinya Electronic
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Xinya Electronic. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 4.31 times less risky than Xinya Electronic. The stock trades about -0.08 of its potential returns per unit of risk. The Xinya Electronic Co is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 1,175 in Xinya Electronic Co on September 25, 2024 and sell it today you would earn a total of 321.00 from holding Xinya Electronic Co or generate 27.32% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Cicc Fund Management vs. Xinya Electronic Co
Performance |
Timeline |
Cicc Fund Management |
Xinya Electronic |
Cicc Fund and Xinya Electronic Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and Xinya Electronic
The main advantage of trading using opposite Cicc Fund and Xinya Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Xinya Electronic 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 Xinya Electronic will offset losses from the drop in Xinya Electronic'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 |
Xinya Electronic vs. Gan Yuan Foods | Xinya Electronic vs. Tsingtao Brewery Co | Xinya Electronic vs. Guangdong Wens Foodstuff | Xinya Electronic vs. Jiangsu Yanghe Brewery |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Other Complementary Tools
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Transaction History View history of all your transactions and understand their impact on performance | |
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |