Correlation Between FSPG Hi and Jiangsu Financial
Specify exactly 2 symbols:
By analyzing existing cross correlation between FSPG Hi Tech Co and Jiangsu Financial Leasing, you can compare the effects of market volatilities on FSPG Hi and Jiangsu Financial 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 FSPG Hi with a short position of Jiangsu Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of FSPG Hi and Jiangsu Financial.
Diversification Opportunities for FSPG Hi and Jiangsu Financial
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between FSPG and Jiangsu is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding FSPG Hi Tech Co and Jiangsu Financial Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Financial Leasing and FSPG Hi 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 FSPG Hi Tech Co are associated (or correlated) with Jiangsu Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Financial Leasing has no effect on the direction of FSPG Hi i.e., FSPG Hi and Jiangsu Financial go up and down completely randomly.
Pair Corralation between FSPG Hi and Jiangsu Financial
Assuming the 90 days trading horizon FSPG Hi Tech Co is expected to generate 3.61 times more return on investment than Jiangsu Financial. However, FSPG Hi is 3.61 times more volatile than Jiangsu Financial Leasing. It trades about 0.18 of its potential returns per unit of risk. Jiangsu Financial Leasing is currently generating about -0.01 per unit of risk. If you would invest 570.00 in FSPG Hi Tech Co on September 1, 2024 and sell it today you would earn a total of 130.00 from holding FSPG Hi Tech Co or generate 22.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
FSPG Hi Tech Co vs. Jiangsu Financial Leasing
Performance |
| Timeline |
| FSPG Hi Tech |
| Jiangsu Financial Leasing |
FSPG Hi and Jiangsu Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FSPG Hi and Jiangsu Financial
The main advantage of trading using opposite FSPG Hi and Jiangsu Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FSPG Hi position performs unexpectedly, Jiangsu Financial 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 Jiangsu Financial will offset losses from the drop in Jiangsu Financial's long position.| FSPG Hi vs. Impulse Qingdao Health | FSPG Hi vs. Eastern Air Logistics | FSPG Hi vs. Meinian Onehealth Healthcare | FSPG Hi vs. Everjoy Health Group |
| Jiangsu Financial vs. TongFu Microelectronics Co | Jiangsu Financial vs. Epoxy Base Electronic | Jiangsu Financial vs. CICC Fund Management | Jiangsu Financial vs. Harvest Fund Management |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |