Correlation Between Guangzhou Boji and Foryou Corp
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By analyzing existing cross correlation between Guangzhou Boji Medical and Foryou Corp, you can compare the effects of market volatilities on Guangzhou Boji and Foryou Corp 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 Guangzhou Boji with a short position of Foryou Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou Boji and Foryou Corp.
Diversification Opportunities for Guangzhou Boji and Foryou Corp
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Guangzhou and Foryou is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou Boji Medical and Foryou Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Foryou Corp and Guangzhou Boji 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 Guangzhou Boji Medical are associated (or correlated) with Foryou Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Foryou Corp has no effect on the direction of Guangzhou Boji i.e., Guangzhou Boji and Foryou Corp go up and down completely randomly.
Pair Corralation between Guangzhou Boji and Foryou Corp
Assuming the 90 days trading horizon Guangzhou Boji Medical is expected to generate 1.11 times more return on investment than Foryou Corp. However, Guangzhou Boji is 1.11 times more volatile than Foryou Corp. It trades about 0.03 of its potential returns per unit of risk. Foryou Corp is currently generating about 0.01 per unit of risk. If you would invest 866.00 in Guangzhou Boji Medical on September 12, 2024 and sell it today you would earn a total of 150.00 from holding Guangzhou Boji Medical or generate 17.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Guangzhou Boji Medical vs. Foryou Corp
Performance |
| Timeline |
| Guangzhou Boji Medical |
| Foryou Corp |
Guangzhou Boji and Foryou Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou Boji and Foryou Corp
The main advantage of trading using opposite Guangzhou Boji and Foryou Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou Boji position performs unexpectedly, Foryou Corp 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 Foryou Corp will offset losses from the drop in Foryou Corp's long position.| Guangzhou Boji vs. Cultural Investment Holdings | Guangzhou Boji vs. Gome Telecom Equipment | Guangzhou Boji vs. Holitech Technology Co | Guangzhou Boji vs. Zotye Automobile Co |
| Foryou Corp vs. Zhongzhu Medical Holdings | Foryou Corp vs. Guangzhou Boji Medical | Foryou Corp vs. Hua Xia Bank | Foryou Corp vs. Bank of Suzhou |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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