Correlation Between HUAQIN TECHNOLOGY and Cicc Fund
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By analyzing existing cross correlation between HUAQIN TECHNOLOGY LTD and Cicc Fund Management, you can compare the effects of market volatilities on HUAQIN TECHNOLOGY 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 HUAQIN TECHNOLOGY with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUAQIN TECHNOLOGY and Cicc Fund.
Diversification Opportunities for HUAQIN TECHNOLOGY and Cicc Fund
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUAQIN and Cicc is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding HUAQIN TECHNOLOGY LTD 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 HUAQIN TECHNOLOGY 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 HUAQIN TECHNOLOGY LTD 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 HUAQIN TECHNOLOGY i.e., HUAQIN TECHNOLOGY and Cicc Fund go up and down completely randomly.
Pair Corralation between HUAQIN TECHNOLOGY and Cicc Fund
Assuming the 90 days trading horizon HUAQIN TECHNOLOGY LTD is expected to generate 2.31 times more return on investment than Cicc Fund. However, HUAQIN TECHNOLOGY is 2.31 times more volatile than Cicc Fund Management. It trades about 0.04 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.01 per unit of risk. If you would invest 4,969 in HUAQIN TECHNOLOGY LTD on September 26, 2024 and sell it today you would earn a total of 1,438 from holding HUAQIN TECHNOLOGY LTD or generate 28.94% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
HUAQIN TECHNOLOGY LTD vs. Cicc Fund Management
Performance |
Timeline |
HUAQIN TECHNOLOGY LTD |
Cicc Fund Management |
HUAQIN TECHNOLOGY and Cicc Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HUAQIN TECHNOLOGY and Cicc Fund
The main advantage of trading using opposite HUAQIN TECHNOLOGY and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUAQIN TECHNOLOGY 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.HUAQIN TECHNOLOGY vs. Anker Innovations Technology | HUAQIN TECHNOLOGY vs. Sharetronic Data Technology | HUAQIN TECHNOLOGY vs. Hangzhou EZVIZ Network | HUAQIN TECHNOLOGY vs. Sichuan Furong Technology |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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