Correlation Between Easyhome New and Sihui Fuji
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By analyzing existing cross correlation between Easyhome New Retail and Sihui Fuji Electronics, you can compare the effects of market volatilities on Easyhome New and Sihui Fuji 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 Easyhome New with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Sihui Fuji.
Diversification Opportunities for Easyhome New and Sihui Fuji
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Easyhome and Sihui is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Sihui Fuji Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sihui Fuji Electronics and Easyhome New 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 Easyhome New Retail are associated (or correlated) with Sihui Fuji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sihui Fuji Electronics has no effect on the direction of Easyhome New i.e., Easyhome New and Sihui Fuji go up and down completely randomly.
Pair Corralation between Easyhome New and Sihui Fuji
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the Sihui Fuji. In addition to that, Easyhome New is 1.38 times more volatile than Sihui Fuji Electronics. It trades about -0.3 of its total potential returns per unit of risk. Sihui Fuji Electronics is currently generating about 0.03 per unit of volatility. If you would invest 2,760 in Sihui Fuji Electronics on October 17, 2024 and sell it today you would earn a total of 33.00 from holding Sihui Fuji Electronics or generate 1.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Easyhome New Retail |
| Sihui Fuji Electronics |
Easyhome New and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Sihui Fuji
The main advantage of trading using opposite Easyhome New and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Sihui Fuji 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 Sihui Fuji will offset losses from the drop in Sihui Fuji's long position.| Easyhome New vs. Sino Platinum Metals Co | Easyhome New vs. Anhui Transport Consulting | Easyhome New vs. Qingdao Choho Industrial | Easyhome New vs. Rising Nonferrous Metals |
| Sihui Fuji vs. Qiming Information Technology | Sihui Fuji vs. Jiangsu Xinri E Vehicle | Sihui Fuji vs. Zhongfu Information | Sihui Fuji vs. Easyhome New Retail |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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