Correlation Between Sichuan Fulin and Lander Sports
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By analyzing existing cross correlation between Sichuan Fulin Transportation and Lander Sports Development, you can compare the effects of market volatilities on Sichuan Fulin and Lander Sports 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 Sichuan Fulin with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Fulin and Lander Sports.
Diversification Opportunities for Sichuan Fulin and Lander Sports
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sichuan and Lander is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Fulin Transportation and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Sichuan Fulin 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 Sichuan Fulin Transportation are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Sichuan Fulin i.e., Sichuan Fulin and Lander Sports go up and down completely randomly.
Pair Corralation between Sichuan Fulin and Lander Sports
Assuming the 90 days trading horizon Sichuan Fulin Transportation is expected to generate 0.83 times more return on investment than Lander Sports. However, Sichuan Fulin Transportation is 1.2 times less risky than Lander Sports. It trades about 0.28 of its potential returns per unit of risk. Lander Sports Development is currently generating about -0.04 per unit of risk. If you would invest 618.00 in Sichuan Fulin Transportation on September 1, 2024 and sell it today you would earn a total of 85.00 from holding Sichuan Fulin Transportation or generate 13.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sichuan Fulin Transportation vs. Lander Sports Development
Performance |
| Timeline |
| Sichuan Fulin Transp |
| Lander Sports Development |
Sichuan Fulin and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Fulin and Lander Sports
The main advantage of trading using opposite Sichuan Fulin and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Fulin position performs unexpectedly, Lander Sports 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 Lander Sports will offset losses from the drop in Lander Sports' long position.| Sichuan Fulin vs. Nanjing Putian Telecommunications | Sichuan Fulin vs. Shenzhen Hifuture Electric | Sichuan Fulin vs. Tianjin Realty Development | Sichuan Fulin vs. Shenyang Huitian Thermal |
| Lander Sports vs. BeiGene | Lander Sports vs. Kweichow Moutai Co | Lander Sports vs. Beijing Roborock Technology | Lander Sports vs. G bits Network Technology |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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