Correlation Between Fujian Rongji and Linewell Software
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By analyzing existing cross correlation between Fujian Rongji Software and Linewell Software Co, you can compare the effects of market volatilities on Fujian Rongji and Linewell Software 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 Fujian Rongji with a short position of Linewell Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Rongji and Linewell Software.
Diversification Opportunities for Fujian Rongji and Linewell Software
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Fujian and Linewell is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Rongji Software and Linewell Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linewell Software and Fujian Rongji 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 Fujian Rongji Software are associated (or correlated) with Linewell Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Linewell Software has no effect on the direction of Fujian Rongji i.e., Fujian Rongji and Linewell Software go up and down completely randomly.
Pair Corralation between Fujian Rongji and Linewell Software
Assuming the 90 days trading horizon Fujian Rongji Software is expected to generate 1.0 times more return on investment than Linewell Software. However, Fujian Rongji is 1.0 times more volatile than Linewell Software Co. It trades about 0.18 of its potential returns per unit of risk. Linewell Software Co is currently generating about 0.17 per unit of risk. If you would invest 425.00 in Fujian Rongji Software on August 29, 2024 and sell it today you would earn a total of 213.00 from holding Fujian Rongji Software or generate 50.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Rongji Software vs. Linewell Software Co
Performance |
| Timeline |
| Fujian Rongji Software |
| Linewell Software |
Fujian Rongji and Linewell Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Rongji and Linewell Software
The main advantage of trading using opposite Fujian Rongji and Linewell Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Rongji position performs unexpectedly, Linewell Software 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 Linewell Software will offset losses from the drop in Linewell Software's long position.| Fujian Rongji vs. China State Construction | Fujian Rongji vs. Huafa Industrial Co | Fujian Rongji vs. China International Capital | Fujian Rongji vs. Kweichow Moutai Co |
| Linewell Software vs. Western Metal Materials | Linewell Software vs. Zhejiang Yayi Metal | Linewell Software vs. Xinjiang Baodi Mining | Linewell Software vs. Guangzhou Tinci Materials |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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