Correlation Between Bosera CMSK and Fujian Oriental
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By analyzing existing cross correlation between Bosera CMSK Industrial and Fujian Oriental Silver, you can compare the effects of market volatilities on Bosera CMSK and Fujian Oriental 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 Bosera CMSK with a short position of Fujian Oriental. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosera CMSK and Fujian Oriental.
Diversification Opportunities for Bosera CMSK and Fujian Oriental
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bosera and Fujian is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and Fujian Oriental Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Oriental Silver and Bosera CMSK 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 Bosera CMSK Industrial are associated (or correlated) with Fujian Oriental. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Oriental Silver has no effect on the direction of Bosera CMSK i.e., Bosera CMSK and Fujian Oriental go up and down completely randomly.
Pair Corralation between Bosera CMSK and Fujian Oriental
Assuming the 90 days trading horizon Bosera CMSK Industrial is expected to generate 0.32 times more return on investment than Fujian Oriental. However, Bosera CMSK Industrial is 3.14 times less risky than Fujian Oriental. It trades about 0.0 of its potential returns per unit of risk. Fujian Oriental Silver is currently generating about -0.01 per unit of risk. If you would invest 222.00 in Bosera CMSK Industrial on October 16, 2024 and sell it today you would lose (6.00) from holding Bosera CMSK Industrial or give up 2.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bosera CMSK Industrial vs. Fujian Oriental Silver
Performance |
| Timeline |
| Bosera CMSK Industrial |
| Fujian Oriental Silver |
Bosera CMSK and Fujian Oriental Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosera CMSK and Fujian Oriental
The main advantage of trading using opposite Bosera CMSK and Fujian Oriental positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosera CMSK position performs unexpectedly, Fujian Oriental 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 Oriental will offset losses from the drop in Fujian Oriental's long position.| Bosera CMSK vs. Shandong Iron and | Bosera CMSK vs. Eit Environmental Development | Bosera CMSK vs. SSAW Hotels Resorts | Bosera CMSK vs. Air China Ltd |
| Fujian Oriental vs. Gan Yuan Foods | Fujian Oriental vs. Tibet Huayu Mining | Fujian Oriental vs. Bosera CMSK Industrial | Fujian Oriental vs. Chengtun Mining Group |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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