Correlation Between Cicc Fund and Dr Peng
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By analyzing existing cross correlation between Cicc Fund Management and Dr Peng Telecom, you can compare the effects of market volatilities on Cicc Fund and Dr Peng 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 Dr Peng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cicc Fund and Dr Peng.
Diversification Opportunities for Cicc Fund and Dr Peng
Excellent diversification
The 3 months correlation between Cicc and 600804 is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Cicc Fund Management and Dr Peng Telecom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dr Peng Telecom 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 Dr Peng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dr Peng Telecom has no effect on the direction of Cicc Fund i.e., Cicc Fund and Dr Peng go up and down completely randomly.
Pair Corralation between Cicc Fund and Dr Peng
Assuming the 90 days trading horizon Cicc Fund Management is expected to under-perform the Dr Peng. But the stock apears to be less risky and, when comparing its historical volatility, Cicc Fund Management is 6.61 times less risky than Dr Peng. The stock trades about -0.18 of its potential returns per unit of risk. The Dr Peng Telecom is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 170.00 in Dr Peng Telecom on September 12, 2024 and sell it today you would earn a total of 49.00 from holding Dr Peng Telecom or generate 28.82% 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. Dr Peng Telecom
Performance |
Timeline |
Cicc Fund Management |
Dr Peng Telecom |
Cicc Fund and Dr Peng Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cicc Fund and Dr Peng
The main advantage of trading using opposite Cicc Fund and Dr Peng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cicc Fund position performs unexpectedly, Dr Peng 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 Dr Peng will offset losses from the drop in Dr Peng'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 |
Dr Peng vs. Kweichow Moutai Co | Dr Peng vs. Shenzhen Mindray Bio Medical | Dr Peng vs. G bits Network Technology | Dr Peng vs. Beijing Roborock Technology |
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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