Correlation Between Yes Optoelectronics and Sihui Fuji
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By analyzing existing cross correlation between Yes Optoelectronics Co and Sihui Fuji Electronics, you can compare the effects of market volatilities on Yes Optoelectronics 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 Yes Optoelectronics with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yes Optoelectronics and Sihui Fuji.
Diversification Opportunities for Yes Optoelectronics and Sihui Fuji
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yes and Sihui is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Yes Optoelectronics 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 Yes Optoelectronics 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 Yes Optoelectronics 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 Yes Optoelectronics i.e., Yes Optoelectronics and Sihui Fuji go up and down completely randomly.
Pair Corralation between Yes Optoelectronics and Sihui Fuji
Assuming the 90 days trading horizon Yes Optoelectronics Co is expected to under-perform the Sihui Fuji. In addition to that, Yes Optoelectronics is 1.11 times more volatile than Sihui Fuji Electronics. It trades about -0.32 of its total potential returns per unit of risk. Sihui Fuji Electronics is currently generating about 0.09 per unit of volatility. If you would invest 2,897 in Sihui Fuji Electronics on October 28, 2024 and sell it today you would earn a total of 173.00 from holding Sihui Fuji Electronics or generate 5.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yes Optoelectronics Co vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Yes Optoelectronics |
| Sihui Fuji Electronics |
Yes Optoelectronics and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yes Optoelectronics and Sihui Fuji
The main advantage of trading using opposite Yes Optoelectronics and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yes Optoelectronics 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.| Yes Optoelectronics vs. Runjian Communication Co | Yes Optoelectronics vs. Haima Automobile Group | Yes Optoelectronics vs. Dazhong Transportation Group | Yes Optoelectronics vs. Jiangsu Jinling Sports |
| Sihui Fuji vs. Jiugui Liquor Co | Sihui Fuji vs. Beijing Kingsoft Office | Sihui Fuji vs. Shandong Hi Speed RoadBridge | Sihui Fuji vs. Hainan Airlines Co |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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