Correlation Between Sichuan Fulin and Jason Furniture
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By analyzing existing cross correlation between Sichuan Fulin Transportation and Jason Furniture, you can compare the effects of market volatilities on Sichuan Fulin and Jason Furniture 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 Jason Furniture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Fulin and Jason Furniture.
Diversification Opportunities for Sichuan Fulin and Jason Furniture
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Sichuan and Jason is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Fulin Transportation and Jason Furniture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jason Furniture 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 Jason Furniture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jason Furniture has no effect on the direction of Sichuan Fulin i.e., Sichuan Fulin and Jason Furniture go up and down completely randomly.
Pair Corralation between Sichuan Fulin and Jason Furniture
Assuming the 90 days trading horizon Sichuan Fulin Transportation is expected to under-perform the Jason Furniture. In addition to that, Sichuan Fulin is 1.63 times more volatile than Jason Furniture. It trades about -0.13 of its total potential returns per unit of risk. Jason Furniture is currently generating about -0.13 per unit of volatility. If you would invest 2,859 in Jason Furniture on October 25, 2024 and sell it today you would lose (141.00) from holding Jason Furniture or give up 4.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sichuan Fulin Transportation vs. Jason Furniture
Performance |
| Timeline |
| Sichuan Fulin Transp |
| Jason Furniture |
Sichuan Fulin and Jason Furniture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Fulin and Jason Furniture
The main advantage of trading using opposite Sichuan Fulin and Jason Furniture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Fulin position performs unexpectedly, Jason Furniture 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 Jason Furniture will offset losses from the drop in Jason Furniture's long position.| Sichuan Fulin vs. HeBei Jinniu Chemical | Sichuan Fulin vs. Lianhe Chemical Technology | Sichuan Fulin vs. Dazhong Transportation Group | Sichuan Fulin vs. Xiangtan Electrochemical Scientific |
| Jason Furniture vs. PetroChina Co Ltd | Jason Furniture vs. Gansu Jiu Steel | Jason Furniture vs. Ming Yang Smart | Jason Furniture vs. Aba Chemicals Corp |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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