Correlation Between Sihui Fuji and Zhuhai Comleader
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sihui Fuji Electronics and Zhuhai Comleader Information, you can compare the effects of market volatilities on Sihui Fuji and Zhuhai Comleader 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 Sihui Fuji with a short position of Zhuhai Comleader. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Zhuhai Comleader.
Diversification Opportunities for Sihui Fuji and Zhuhai Comleader
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sihui and Zhuhai is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Zhuhai Comleader Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhuhai Comleader Inf and Sihui Fuji 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 Sihui Fuji Electronics are associated (or correlated) with Zhuhai Comleader. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhuhai Comleader Inf has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Zhuhai Comleader go up and down completely randomly.
Pair Corralation between Sihui Fuji and Zhuhai Comleader
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 0.53 times more return on investment than Zhuhai Comleader. However, Sihui Fuji Electronics is 1.88 times less risky than Zhuhai Comleader. It trades about 0.27 of its potential returns per unit of risk. Zhuhai Comleader Information is currently generating about 0.12 per unit of risk. If you would invest 2,556 in Sihui Fuji Electronics on September 25, 2024 and sell it today you would earn a total of 329.00 from holding Sihui Fuji Electronics or generate 12.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Sihui Fuji Electronics vs. Zhuhai Comleader Information
Performance |
Timeline |
Sihui Fuji Electronics |
Zhuhai Comleader Inf |
Sihui Fuji and Zhuhai Comleader Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sihui Fuji and Zhuhai Comleader
The main advantage of trading using opposite Sihui Fuji and Zhuhai Comleader positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Zhuhai Comleader 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 Zhuhai Comleader will offset losses from the drop in Zhuhai Comleader's long position.Sihui Fuji vs. Zhuhai Comleader Information | Sihui Fuji vs. Semiconductor Manufacturing Electronics | Sihui Fuji vs. Eastern Communications Co | Sihui Fuji vs. Xinjiang Communications Construction |
Zhuhai Comleader vs. Industrial and Commercial | Zhuhai Comleader vs. Agricultural Bank of | Zhuhai Comleader vs. China Construction Bank | Zhuhai Comleader vs. Bank of China |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |