Correlation Between CITIC Telecom and Dyadic International
Can any of the company-specific risk be diversified away by investing in both CITIC Telecom and Dyadic International 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 CITIC Telecom and Dyadic International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CITIC Telecom International and Dyadic International, you can compare the effects of market volatilities on CITIC Telecom and Dyadic International 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 Telecom with a short position of Dyadic International. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIC Telecom and Dyadic International.
Diversification Opportunities for CITIC Telecom and Dyadic International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CITIC and Dyadic is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CITIC Telecom International and Dyadic International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dyadic International and CITIC Telecom 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 Telecom International are associated (or correlated) with Dyadic International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dyadic International has no effect on the direction of CITIC Telecom i.e., CITIC Telecom and Dyadic International go up and down completely randomly.
Pair Corralation between CITIC Telecom and Dyadic International
If you would invest 95.00 in Dyadic International on August 31, 2025 and sell it today you would lose (1.00) from holding Dyadic International or give up 1.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
CITIC Telecom International vs. Dyadic International
Performance |
| Timeline |
| CITIC Telecom Intern |
| Dyadic International |
CITIC Telecom and Dyadic International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIC Telecom and Dyadic International
The main advantage of trading using opposite CITIC Telecom and Dyadic International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIC Telecom position performs unexpectedly, Dyadic International 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 Dyadic International will offset losses from the drop in Dyadic International's long position.| CITIC Telecom vs. Young Cos Brewery | CITIC Telecom vs. Eternal Hospitality Group | CITIC Telecom vs. High Performance Beverages | CITIC Telecom vs. Monster Beverage Corp |
| Dyadic International vs. H2O Retailing | Dyadic International vs. Drinks Americas Hldg | Dyadic International vs. Fevertree Drinks Plc | Dyadic International vs. Fast Retailing Co |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Stocks Directory Find actively traded stocks across global markets | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |