Correlation Between CICC Fund and China Sports
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By analyzing existing cross correlation between CICC Fund Management and China Sports Industry, you can compare the effects of market volatilities on CICC Fund and China Sports 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 China Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of CICC Fund and China Sports.
Diversification Opportunities for CICC Fund and China Sports
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CICC and China is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding CICC Fund Management and China Sports Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Sports Industry 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 China Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Sports Industry has no effect on the direction of CICC Fund i.e., CICC Fund and China Sports go up and down completely randomly.
Pair Corralation between CICC Fund and China Sports
Assuming the 90 days trading horizon CICC Fund Management is expected to generate 0.45 times more return on investment than China Sports. However, CICC Fund Management is 2.22 times less risky than China Sports. It trades about 0.4 of its potential returns per unit of risk. China Sports Industry is currently generating about 0.11 per unit of risk. If you would invest 325.00 in CICC Fund Management on September 24, 2024 and sell it today you would earn a total of 44.00 from holding CICC Fund Management or generate 13.54% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
CICC Fund Management vs. China Sports Industry
Performance |
Timeline |
CICC Fund Management |
China Sports Industry |
CICC Fund and China Sports Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CICC Fund and China Sports
The main advantage of trading using opposite CICC Fund and China Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CICC Fund position performs unexpectedly, China Sports 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 China Sports will offset losses from the drop in China Sports' long position.CICC Fund vs. Industrial and Commercial | CICC Fund vs. Kweichow Moutai Co | CICC Fund vs. Agricultural Bank of | CICC Fund vs. China Mobile Limited |
China Sports vs. Qingdao Foods Co | China Sports vs. Shandong Sinoglory Health | China Sports vs. Guilin Seamild Foods | China Sports vs. Zhejiang Huatong Meat |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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