Correlation Between Anhui Gujing and Cicc Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anhui Gujing Distillery and Cicc Fund Management, you can compare the effects of market volatilities on Anhui Gujing 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 Anhui Gujing with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Gujing and Cicc Fund.
Diversification Opportunities for Anhui Gujing and Cicc Fund
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anhui and Cicc is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Gujing Distillery 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 Anhui Gujing 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 Anhui Gujing Distillery 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 Anhui Gujing i.e., Anhui Gujing and Cicc Fund go up and down completely randomly.
Pair Corralation between Anhui Gujing and Cicc Fund
Assuming the 90 days trading horizon Anhui Gujing Distillery is expected to generate 6.37 times more return on investment than Cicc Fund. However, Anhui Gujing is 6.37 times more volatile than Cicc Fund Management. It trades about 0.14 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.18 per unit of risk. If you would invest 14,650 in Anhui Gujing Distillery on September 12, 2024 and sell it today you would earn a total of 4,600 from holding Anhui Gujing Distillery or generate 31.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Anhui Gujing Distillery vs. Cicc Fund Management
Performance |
Timeline |
Anhui Gujing Distillery |
Cicc Fund Management |
Anhui Gujing and Cicc Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Anhui Gujing and Cicc Fund
The main advantage of trading using opposite Anhui Gujing and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Gujing 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.Anhui Gujing vs. China Petroleum Chemical | Anhui Gujing vs. PetroChina Co Ltd | Anhui Gujing vs. China State Construction | Anhui Gujing vs. China Railway Group |
Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited | Cicc Fund vs. China Construction Bank |
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.
Other Complementary Tools
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |