Correlation Between Vanfund Urban and Fujian Rongji
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By analyzing existing cross correlation between Vanfund Urban Investment and Fujian Rongji Software, you can compare the effects of market volatilities on Vanfund Urban and Fujian Rongji 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 Vanfund Urban with a short position of Fujian Rongji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and Fujian Rongji.
Diversification Opportunities for Vanfund Urban and Fujian Rongji
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Vanfund and Fujian is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and Fujian Rongji Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Rongji Software and Vanfund Urban 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 Vanfund Urban Investment are associated (or correlated) with Fujian Rongji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Rongji Software has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and Fujian Rongji go up and down completely randomly.
Pair Corralation between Vanfund Urban and Fujian Rongji
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to under-perform the Fujian Rongji. In addition to that, Vanfund Urban is 1.05 times more volatile than Fujian Rongji Software. It trades about 0.0 of its total potential returns per unit of risk. Fujian Rongji Software is currently generating about 0.0 per unit of volatility. If you would invest 814.00 in Fujian Rongji Software on September 3, 2024 and sell it today you would lose (146.00) from holding Fujian Rongji Software or give up 17.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. Fujian Rongji Software
Performance |
| Timeline |
| Vanfund Urban Investment |
| Fujian Rongji Software |
Vanfund Urban and Fujian Rongji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and Fujian Rongji
The main advantage of trading using opposite Vanfund Urban and Fujian Rongji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, Fujian Rongji 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 Fujian Rongji will offset losses from the drop in Fujian Rongji's long position.| Vanfund Urban vs. Cultural Investment Holdings | Vanfund Urban vs. Gome Telecom Equipment | Vanfund Urban vs. Bus Online Co | Vanfund Urban vs. Holitech Technology Co |
| Fujian Rongji vs. Vanfund Urban Investment | Fujian Rongji vs. Xiandai Investment Co | Fujian Rongji vs. Shenzhen Centralcon Investment | Fujian Rongji vs. Cultural Investment Holdings |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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