Correlation Between Focus Media and Bright Real
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By analyzing existing cross correlation between Focus Media Information and Bright Real Estate, you can compare the effects of market volatilities on Focus Media and Bright Real 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 Focus Media with a short position of Bright Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Focus Media and Bright Real.
Diversification Opportunities for Focus Media and Bright Real
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Focus and Bright is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Focus Media Information and Bright Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bright Real Estate and Focus Media 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 Focus Media Information are associated (or correlated) with Bright Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bright Real Estate has no effect on the direction of Focus Media i.e., Focus Media and Bright Real go up and down completely randomly.
Pair Corralation between Focus Media and Bright Real
Assuming the 90 days trading horizon Focus Media Information is expected to generate 0.87 times more return on investment than Bright Real. However, Focus Media Information is 1.15 times less risky than Bright Real. It trades about 0.07 of its potential returns per unit of risk. Bright Real Estate is currently generating about -0.2 per unit of risk. If you would invest 693.00 in Focus Media Information on January 19, 2025 and sell it today you would earn a total of 26.00 from holding Focus Media Information or generate 3.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Focus Media Information vs. Bright Real Estate
Performance |
| Timeline |
| Focus Media Information |
| Bright Real Estate |
Focus Media and Bright Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Focus Media and Bright Real
The main advantage of trading using opposite Focus Media and Bright Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Focus Media position performs unexpectedly, Bright Real 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 Bright Real will offset losses from the drop in Bright Real's long position.| Focus Media vs. Gansu Jiu Steel | Focus Media vs. Shenzhen MTC Co | Focus Media vs. Aba Chemicals Corp | Focus Media vs. 159681 |
| Bright Real vs. Industrial and Commercial | Bright Real vs. China Construction Bank | Bright Real vs. Bank of China | Bright Real vs. Agricultural Bank of |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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