Correlation Between CICC Fund and BTG Hotels
Specify exactly 2 symbols:
By analyzing existing cross correlation between CICC Fund Management and BTG Hotels Group, you can compare the effects of market volatilities on CICC Fund and BTG Hotels 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 BTG Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and BTG Hotels.
Diversification Opportunities for CICC Fund and BTG Hotels
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CICC and BTG is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and BTG Hotels Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Hotels Group 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 BTG Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Hotels Group has no effect on the direction of CICC Fund i.e., CICC Fund and BTG Hotels go up and down completely randomly.
Pair Corralation between CICC Fund and BTG Hotels
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.67 times more return on investment than BTG Hotels. However, CICC Fund Management is 1.5 times less risky than BTG Hotels. It trades about 0.38 of its potential returns per unit of risk. BTG Hotels Group is currently generating about 0.12 per unit of risk. If you would invest 325.00 in CICC Fund Management on September 25, 2024 and sell it today you would earn a total of 42.00 from holding CICC Fund Management or generate 12.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 95.45% |
Values | Daily Returns |
CICC Fund Management vs. BTG Hotels Group
Performance |
Timeline |
CICC Fund Management |
BTG Hotels Group |
CICC Fund and BTG Hotels Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CICC Fund and BTG Hotels
The main advantage of trading using opposite CICC Fund and BTG Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, BTG Hotels 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 BTG Hotels will offset losses from the drop in BTG Hotels' 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 |
BTG Hotels vs. CICC Fund Management | BTG Hotels vs. Postal Savings Bank | BTG Hotels vs. Jiugui Liquor Co | BTG Hotels vs. Huaxia Fund Management |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
Fundamental Analysis View fundamental data based on most recent published financial statements |