Correlation Between CICC Fund and Beijing-Shanghai
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By analyzing existing cross correlation between CICC Fund Management and Beijing Shanghai High Speed, you can compare the effects of market volatilities on CICC Fund and Beijing-Shanghai 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 Beijing-Shanghai. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and Beijing-Shanghai.
Diversification Opportunities for CICC Fund and Beijing-Shanghai
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CICC and Beijing-Shanghai is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and Beijing Shanghai High Speed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Shanghai High 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 Beijing-Shanghai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Shanghai High has no effect on the direction of CICC Fund i.e., CICC Fund and Beijing-Shanghai go up and down completely randomly.
Pair Corralation between CICC Fund and Beijing-Shanghai
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 1.01 times more return on investment than Beijing-Shanghai. However, CICC Fund is 1.01 times more volatile than Beijing Shanghai High Speed. It trades about 0.15 of its potential returns per unit of risk. Beijing Shanghai High Speed is currently generating about -0.2 per unit of risk. If you would invest 343.00 in CICC Fund Management on December 10, 2024 and sell it today you would earn a total of 34.00 from holding CICC Fund Management or generate 9.91% 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. Beijing Shanghai High Speed
Performance |
Timeline |
CICC Fund Management |
Beijing Shanghai High |
CICC Fund and Beijing-Shanghai Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CICC Fund and Beijing-Shanghai
The main advantage of trading using opposite CICC Fund and Beijing-Shanghai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, Beijing-Shanghai 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 Beijing-Shanghai will offset losses from the drop in Beijing-Shanghai'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 |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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