Correlation Between CITIC Telecom and Ingersoll Rand
Can any of the company-specific risk be diversified away by investing in both CITIC Telecom and Ingersoll Rand 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 Ingersoll Rand 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 Ingersoll Rand, you can compare the effects of market volatilities on CITIC Telecom and Ingersoll Rand 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 Ingersoll Rand. Check out your portfolio center. Please also check ongoing floating volatility patterns of CITIC Telecom and Ingersoll Rand.
Diversification Opportunities for CITIC Telecom and Ingersoll Rand
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CITIC and Ingersoll is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CITIC Telecom International and Ingersoll Rand in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingersoll Rand 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 Ingersoll Rand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingersoll Rand has no effect on the direction of CITIC Telecom i.e., CITIC Telecom and Ingersoll Rand go up and down completely randomly.
Pair Corralation between CITIC Telecom and Ingersoll Rand
If you would invest 7,877 in Ingersoll Rand on September 12, 2025 and sell it today you would earn a total of 221.00 from holding Ingersoll Rand or generate 2.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CITIC Telecom International vs. Ingersoll Rand
Performance |
| Timeline |
| CITIC Telecom Intern |
| Ingersoll Rand |
CITIC Telecom and Ingersoll Rand Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CITIC Telecom and Ingersoll Rand
The main advantage of trading using opposite CITIC Telecom and Ingersoll Rand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CITIC Telecom position performs unexpectedly, Ingersoll Rand 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 Ingersoll Rand will offset losses from the drop in Ingersoll Rand's long position.| CITIC Telecom vs. Summit Hotel Properties | CITIC Telecom vs. Sunstone Hotel Investors | CITIC Telecom vs. Delta Air Lines | CITIC Telecom vs. E Home Household Service |
| Ingersoll Rand vs. IDEX Corporation | Ingersoll Rand vs. Flowserve | Ingersoll Rand vs. Donaldson | Ingersoll Rand vs. Franklin Electric 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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