Correlation Analysis Between CITIC and Calgon Carbon

This module allows you to analyze existing cross correlation between CITIC Limited and Calgon Carbon Corporation. You can compare the effects of market volatilities on CITIC and Calgon Carbon 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 CITIC with a short position of Calgon Carbon. See also your portfolio center. Please also check ongoing floating volatility patterns of CITIC and Calgon Carbon.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

CITIC Limited  
00

Risk-Adjusted Performance

Over the last 30 days CITIC Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite latest unsteady performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Calgon Carbon  
00

Risk-Adjusted Performance

Over the last 30 days Calgon Carbon Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Calgon Carbon is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.

CITIC and Calgon Carbon Volatility Contrast

CITIC Limited  vs.  Calgon Carbon Corp.

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,507  in Calgon Carbon Corporation on June 19, 2019 and sell it today you would earn a total of  0.00  from holding Calgon Carbon Corporation or generate 0.0% return on investment over 30 days.

Pair Corralation between CITIC and Calgon Carbon

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.33%
ValuesDaily Returns

Diversification Opportunities for CITIC and Calgon Carbon

CITIC Limited diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding CITIC Limited and Calgon Carbon Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Calgon Carbon and CITIC 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 CITIC Limited are associated (or correlated) with Calgon Carbon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calgon Carbon has no effect on the direction of CITIC i.e. CITIC and Calgon Carbon go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
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