Correlation Between Maxvision Technology and Fujian Nanwang
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By analyzing existing cross correlation between Maxvision Technology Corp and Fujian Nanwang Environment, you can compare the effects of market volatilities on Maxvision Technology and Fujian Nanwang 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 Maxvision Technology with a short position of Fujian Nanwang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maxvision Technology and Fujian Nanwang.
Diversification Opportunities for Maxvision Technology and Fujian Nanwang
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Maxvision and Fujian is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Maxvision Technology Corp and Fujian Nanwang Environment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Nanwang Envir and Maxvision Technology 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 Maxvision Technology Corp are associated (or correlated) with Fujian Nanwang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Nanwang Envir has no effect on the direction of Maxvision Technology i.e., Maxvision Technology and Fujian Nanwang go up and down completely randomly.
Pair Corralation between Maxvision Technology and Fujian Nanwang
Assuming the 90 days trading horizon Maxvision Technology Corp is expected to under-perform the Fujian Nanwang. In addition to that, Maxvision Technology is 1.49 times more volatile than Fujian Nanwang Environment. It trades about -0.25 of its total potential returns per unit of risk. Fujian Nanwang Environment is currently generating about 0.18 per unit of volatility. If you would invest 1,312 in Fujian Nanwang Environment on October 15, 2024 and sell it today you would earn a total of 87.00 from holding Fujian Nanwang Environment or generate 6.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maxvision Technology Corp vs. Fujian Nanwang Environment
Performance |
| Timeline |
| Maxvision Technology Corp |
| Fujian Nanwang Envir |
Maxvision Technology and Fujian Nanwang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maxvision Technology and Fujian Nanwang
The main advantage of trading using opposite Maxvision Technology and Fujian Nanwang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maxvision Technology position performs unexpectedly, Fujian Nanwang 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 Fujian Nanwang will offset losses from the drop in Fujian Nanwang's long position.| Maxvision Technology vs. China Life Insurance | Maxvision Technology vs. Cinda Securities Co | Maxvision Technology vs. Piotech Inc A | Maxvision Technology vs. Dongxing Sec Co |
| Fujian Nanwang vs. Keeson Technology Corp | Fujian Nanwang vs. Dawning Information Industry | Fujian Nanwang vs. ROPEOK Technology Group | Fujian Nanwang vs. Maxvision Technology 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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