Correlation Between CICC Fund and Hua Xia
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By analyzing existing cross correlation between CICC Fund Management and Hua Xia Bank, you can compare the effects of market volatilities on CICC Fund and Hua Xia 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 Hua Xia. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Hua Xia.
Diversification Opportunities for CICC Fund and Hua Xia
Very good diversification
The 3 months correlation between CICC and Hua is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Hua Xia Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hua Xia Bank 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 Hua Xia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hua Xia Bank has no effect on the direction of CICC Fund i.e., CICC Fund and Hua Xia go up and down completely randomly.
Pair Corralation between CICC Fund and Hua Xia
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.66 times more return on investment than Hua Xia. However, CICC Fund Management is 1.51 times less risky than Hua Xia. It trades about 0.09 of its potential returns per unit of risk. Hua Xia Bank is currently generating about -0.05 per unit of risk. If you would invest 369.00 in CICC Fund Management on December 22, 2024 and sell it today you would earn a total of 16.00 from holding CICC Fund Management or generate 4.34% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
CICC Fund Management vs. Hua Xia Bank
Performance |
Timeline |
CICC Fund Management |
Hua Xia Bank |
CICC Fund and Hua Xia Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CICC Fund and Hua Xia
The main advantage of trading using opposite CICC Fund and Hua Xia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Hua Xia 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 Hua Xia will offset losses from the drop in Hua Xia's long position.CICC Fund vs. Lander Sports Development | CICC Fund vs. TianJin 712 Communication | CICC Fund vs. Sportsoul Co Ltd | CICC Fund vs. Zhejiang Daily Media |
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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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