Correlation Between Wonders Information and Fujian Anjoy
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By analyzing existing cross correlation between Wonders Information and Fujian Anjoy Foods, you can compare the effects of market volatilities on Wonders Information and Fujian Anjoy 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 Wonders Information with a short position of Fujian Anjoy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wonders Information and Fujian Anjoy.
Diversification Opportunities for Wonders Information and Fujian Anjoy
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Wonders and Fujian is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Wonders Information and Fujian Anjoy Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Anjoy Foods and Wonders Information 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 Wonders Information are associated (or correlated) with Fujian Anjoy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Anjoy Foods has no effect on the direction of Wonders Information i.e., Wonders Information and Fujian Anjoy go up and down completely randomly.
Pair Corralation between Wonders Information and Fujian Anjoy
Assuming the 90 days trading horizon Wonders Information is expected to under-perform the Fujian Anjoy. In addition to that, Wonders Information is 2.15 times more volatile than Fujian Anjoy Foods. It trades about -0.25 of its total potential returns per unit of risk. Fujian Anjoy Foods is currently generating about -0.33 per unit of volatility. If you would invest 8,587 in Fujian Anjoy Foods on October 18, 2024 and sell it today you would lose (908.00) from holding Fujian Anjoy Foods or give up 10.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wonders Information vs. Fujian Anjoy Foods
Performance |
| Timeline |
| Wonders Information |
| Fujian Anjoy Foods |
Wonders Information and Fujian Anjoy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wonders Information and Fujian Anjoy
The main advantage of trading using opposite Wonders Information and Fujian Anjoy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wonders Information position performs unexpectedly, Fujian Anjoy 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 Anjoy will offset losses from the drop in Fujian Anjoy's long position.| Wonders Information vs. Zhongrun Resources Investment | Wonders Information vs. Kunwu Jiuding Investment | Wonders Information vs. Ningbo Ligong Online | Wonders Information vs. Vanfund Urban Investment |
| Fujian Anjoy vs. Yangmei Chemical Co | Fujian Anjoy vs. Tongyu Communication | Fujian Anjoy vs. Ningxia Younglight Chemicals | Fujian Anjoy vs. Liaoning Dingjide Petrochemical |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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