Correlation Between CCC Intelligent and Full Truck
Can any of the company-specific risk be diversified away by investing in both CCC Intelligent and Full Truck at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CCC Intelligent and Full Truck into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CCC Intelligent Solutions and Full Truck Alliance, you can compare the effects of market volatilities on CCC Intelligent and Full Truck 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 CCC Intelligent with a short position of Full Truck. Check out your portfolio center. Please also check ongoing floating volatility patterns of CCC Intelligent and Full Truck.
Diversification Opportunities for CCC Intelligent and Full Truck
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CCC and Full is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding CCC Intelligent Solutions and Full Truck Alliance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Full Truck Alliance and CCC Intelligent 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 CCC Intelligent Solutions are associated (or correlated) with Full Truck. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Full Truck Alliance has no effect on the direction of CCC Intelligent i.e., CCC Intelligent and Full Truck go up and down completely randomly.
Pair Corralation between CCC Intelligent and Full Truck
Given the investment horizon of 90 days CCC Intelligent Solutions is expected to generate 0.83 times more return on investment than Full Truck. However, CCC Intelligent Solutions is 1.2 times less risky than Full Truck. It trades about 0.09 of its potential returns per unit of risk. Full Truck Alliance is currently generating about 0.06 per unit of risk. If you would invest 897.00 in CCC Intelligent Solutions on April 25, 2025 and sell it today you would earn a total of 102.00 from holding CCC Intelligent Solutions or generate 11.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CCC Intelligent Solutions vs. Full Truck Alliance
Performance |
| Timeline |
| CCC Intelligent Solutions |
| Full Truck Alliance |
CCC Intelligent and Full Truck Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CCC Intelligent and Full Truck
The main advantage of trading using opposite CCC Intelligent and Full Truck positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CCC Intelligent position performs unexpectedly, Full Truck 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 Full Truck will offset losses from the drop in Full Truck's long position.| CCC Intelligent vs. Global Blue Group | CCC Intelligent vs. EverCommerce | CCC Intelligent vs. CSG Systems International | CCC Intelligent vs. Consensus Cloud Solutions |
| Full Truck vs. Alight Inc | Full Truck vs. Global Business Travel | Full Truck vs. Kingsoft Cloud Holdings | Full Truck vs. CS Disco LLC |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |