Correlation Between CICC Fund and Luyin Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between CICC Fund Management and Luyin Investment Group, you can compare the effects of market volatilities on CICC Fund and Luyin Investment 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 Luyin Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Luyin Investment.
Diversification Opportunities for CICC Fund and Luyin Investment
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CICC and Luyin is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Luyin Investment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Luyin Investment 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 Luyin Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Luyin Investment has no effect on the direction of CICC Fund i.e., CICC Fund and Luyin Investment go up and down completely randomly.
Pair Corralation between CICC Fund and Luyin Investment
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.62 times more return on investment than Luyin Investment. However, CICC Fund Management is 1.61 times less risky than Luyin Investment. It trades about 0.2 of its potential returns per unit of risk. Luyin Investment Group is currently generating about -0.02 per unit of risk. If you would invest 329.00 in CICC Fund Management on December 7, 2024 and sell it today you would earn a total of 49.00 from holding CICC Fund Management or generate 14.89% 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. Luyin Investment Group
Performance |
Timeline |
CICC Fund Management |
Luyin Investment |
CICC Fund and Luyin Investment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CICC Fund and Luyin Investment
The main advantage of trading using opposite CICC Fund and Luyin Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Luyin Investment 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 Luyin Investment will offset losses from the drop in Luyin Investment's long position.CICC Fund vs. Wonders Information | CICC Fund vs. Shandong Hongchuang Aluminum | CICC Fund vs. Jinxiandai Information Industry | CICC Fund vs. Guangzhou Ruoyuchen Information |
Luyin Investment vs. Fujian Nanwang Environment | Luyin Investment vs. Linktel Technologies Co | Luyin Investment vs. Kailong High Technology | Luyin Investment vs. Hangzhou Guotai Environmental |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Fundamental Analysis View fundamental data based on most recent published financial statements | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |