Correlation Between Cicc Fund and Xizi Clean
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By analyzing existing cross correlation between Cicc Fund Management and Xizi Clean Energy, you can compare the effects of market volatilities on Cicc Fund and Xizi Clean 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 Xizi Clean. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Xizi Clean.
Diversification Opportunities for Cicc Fund and Xizi Clean
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cicc and Xizi is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Xizi Clean Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xizi Clean Energy 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 Xizi Clean. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xizi Clean Energy has no effect on the direction of Cicc Fund i.e., Cicc Fund and Xizi Clean go up and down completely randomly.
Pair Corralation between Cicc Fund and Xizi Clean
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Xizi Clean. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 4.88 times less risky than Xizi Clean. The stock trades about -0.18 of its potential returns per unit of risk. The Xizi Clean Energy is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 940.00 in Xizi Clean Energy on September 12, 2024 and sell it today you would earn a total of 242.00 from holding Xizi Clean Energy or generate 25.74% 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. Xizi Clean Energy
Performance |
Timeline |
Cicc Fund Management |
Xizi Clean Energy |
Cicc Fund and Xizi Clean Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and Xizi Clean
The main advantage of trading using opposite Cicc Fund and Xizi Clean positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Xizi Clean 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 Xizi Clean will offset losses from the drop in Xizi Clean's long position.Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited | Cicc Fund vs. China Construction Bank |
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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