Correlation Between Bus Online and Sihui Fuji
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bus Online Co and Sihui Fuji Electronics, you can compare the effects of market volatilities on Bus Online 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 Bus Online with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bus Online and Sihui Fuji.
Diversification Opportunities for Bus Online and Sihui Fuji
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Bus and Sihui is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Bus Online Co 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 Bus Online 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 Bus Online Co 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 Bus Online i.e., Bus Online and Sihui Fuji go up and down completely randomly.
Pair Corralation between Bus Online and Sihui Fuji
Assuming the 90 days trading horizon Bus Online Co is expected to under-perform the Sihui Fuji. In addition to that, Bus Online is 1.23 times more volatile than Sihui Fuji Electronics. It trades about -0.31 of its total potential returns per unit of risk. Sihui Fuji Electronics is currently generating about 0.0 per unit of volatility. If you would invest 2,789 in Sihui Fuji Electronics on October 13, 2024 and sell it today you would lose (49.00) from holding Sihui Fuji Electronics or give up 1.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bus Online Co vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Bus Online |
| Sihui Fuji Electronics |
Bus Online and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bus Online and Sihui Fuji
The main advantage of trading using opposite Bus Online and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bus Online 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.| Bus Online vs. Haima Automobile Group | Bus Online vs. Shenzhen Zhongzhuang Construction | Bus Online vs. Anhui Jianghuai Automobile | Bus Online vs. Lutian Machinery Co |
| Sihui Fuji vs. De Rucci Healthy | Sihui Fuji vs. Everjoy Health Group | Sihui Fuji vs. Chengdu Spaceon Electronics | Sihui Fuji vs. Impulse Qingdao Health |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |