Correlation Between Lander Sports and FSPG Hi
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By analyzing existing cross correlation between Lander Sports Development and FSPG Hi Tech Co, you can compare the effects of market volatilities on Lander Sports and FSPG Hi 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 Lander Sports with a short position of FSPG Hi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and FSPG Hi.
Diversification Opportunities for Lander Sports and FSPG Hi
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Lander and FSPG is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and FSPG Hi Tech Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FSPG Hi Tech and Lander Sports 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 Lander Sports Development are associated (or correlated) with FSPG Hi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FSPG Hi Tech has no effect on the direction of Lander Sports i.e., Lander Sports and FSPG Hi go up and down completely randomly.
Pair Corralation between Lander Sports and FSPG Hi
Assuming the 90 days trading horizon Lander Sports is expected to generate 5.36 times less return on investment than FSPG Hi. In addition to that, Lander Sports is 1.06 times more volatile than FSPG Hi Tech Co. It trades about 0.02 of its total potential returns per unit of risk. FSPG Hi Tech Co is currently generating about 0.12 per unit of volatility. If you would invest 469.00 in FSPG Hi Tech Co on August 26, 2024 and sell it today you would earn a total of 542.00 from holding FSPG Hi Tech Co or generate 115.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.62% |
| Values | Daily Returns |
Lander Sports Development vs. FSPG Hi Tech Co
Performance |
| Timeline |
| Lander Sports Development |
| FSPG Hi Tech |
Lander Sports and FSPG Hi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and FSPG Hi
The main advantage of trading using opposite Lander Sports and FSPG Hi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, FSPG Hi 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 FSPG Hi will offset losses from the drop in FSPG Hi's long position.| Lander Sports vs. Shuhua Sports Co | Lander Sports vs. Zhongrun Resources Investment | Lander Sports vs. Guangdong Advertising Co | Lander Sports vs. Nuode Investment Co |
| FSPG Hi vs. Zijin Mining Group | FSPG Hi vs. Wanhua Chemical Group | FSPG Hi vs. Baoshan Iron Steel | FSPG Hi vs. Shandong Gold Mining |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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