Correlation Between Harvest Fund and Cicc Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Cicc Fund Management, you can compare the effects of market volatilities on Harvest Fund and Cicc Fund 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 Harvest Fund with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Cicc Fund.
Diversification Opportunities for Harvest Fund and Cicc Fund
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Harvest and Cicc is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Cicc Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cicc Fund Management and Harvest 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 Harvest Fund Management are associated (or correlated) with Cicc Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cicc Fund Management has no effect on the direction of Harvest Fund i.e., Harvest Fund and Cicc Fund go up and down completely randomly.
Pair Corralation between Harvest Fund and Cicc Fund
Assuming the 90 days trading horizon Harvest Fund Management is expected to under-perform the Cicc Fund. In addition to that, Harvest Fund is 1.18 times more volatile than Cicc Fund Management. It trades about -0.05 of its total potential returns per unit of risk. Cicc Fund Management is currently generating about -0.01 per unit of volatility. If you would invest 249.00 in Cicc Fund Management on September 26, 2024 and sell it today you would lose (17.00) from holding Cicc Fund Management or give up 6.83% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Harvest Fund Management vs. Cicc Fund Management
Performance |
Timeline |
Harvest Fund Management |
Cicc Fund Management |
Harvest Fund and Cicc Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Harvest Fund and Cicc Fund
The main advantage of trading using opposite Harvest Fund and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Cicc Fund 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 Cicc Fund will offset losses from the drop in Cicc Fund's long position.Harvest Fund vs. King Strong New Material | Harvest Fund vs. Suzhou Douson Drilling | Harvest Fund vs. Hangzhou Gaoxin Rubber | Harvest Fund vs. Inspur Software Co |
Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
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 Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |