Correlation Between Fujian Boss and Soyea Technology
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By analyzing existing cross correlation between Fujian Boss Software and Soyea Technology Co, you can compare the effects of market volatilities on Fujian Boss and Soyea Technology 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 Fujian Boss with a short position of Soyea Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Boss and Soyea Technology.
Diversification Opportunities for Fujian Boss and Soyea Technology
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fujian and Soyea is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Boss Software and Soyea Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soyea Technology and Fujian Boss 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 Fujian Boss Software are associated (or correlated) with Soyea Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soyea Technology has no effect on the direction of Fujian Boss i.e., Fujian Boss and Soyea Technology go up and down completely randomly.
Pair Corralation between Fujian Boss and Soyea Technology
Assuming the 90 days trading horizon Fujian Boss Software is expected to under-perform the Soyea Technology. But the stock apears to be less risky and, when comparing its historical volatility, Fujian Boss Software is 1.38 times less risky than Soyea Technology. The stock trades about -0.53 of its potential returns per unit of risk. The Soyea Technology Co is currently generating about -0.37 of returns per unit of risk over similar time horizon. If you would invest 644.00 in Soyea Technology Co on October 12, 2024 and sell it today you would lose (139.00) from holding Soyea Technology Co or give up 21.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Boss Software vs. Soyea Technology Co
Performance |
| Timeline |
| Fujian Boss Software |
| Soyea Technology |
Fujian Boss and Soyea Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Boss and Soyea Technology
The main advantage of trading using opposite Fujian Boss and Soyea Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Boss position performs unexpectedly, Soyea Technology 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 Soyea Technology will offset losses from the drop in Soyea Technology's long position.| Fujian Boss vs. Mengtian Home Group | Fujian Boss vs. Songz Automobile Air | Fujian Boss vs. Shandong Homey Aquatic | Fujian Boss vs. Shanghai Shuixing Home |
| Soyea Technology vs. Digiwin Software Co | Soyea Technology vs. Fujian Boss Software | Soyea Technology vs. Anhui Transport Consulting | Soyea Technology vs. China National Software |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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