Correlation Between Fujian Boss and Accelink Technologies
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By analyzing existing cross correlation between Fujian Boss Software and Accelink Technologies Co, you can compare the effects of market volatilities on Fujian Boss and Accelink Technologies 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 Accelink Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Boss and Accelink Technologies.
Diversification Opportunities for Fujian Boss and Accelink Technologies
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fujian and Accelink is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Boss Software and Accelink Technologies Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accelink Technologies 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 Accelink Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accelink Technologies has no effect on the direction of Fujian Boss i.e., Fujian Boss and Accelink Technologies go up and down completely randomly.
Pair Corralation between Fujian Boss and Accelink Technologies
Assuming the 90 days trading horizon Fujian Boss Software is expected to under-perform the Accelink Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Fujian Boss Software is 1.98 times less risky than Accelink Technologies. The stock trades about -0.39 of its potential returns per unit of risk. The Accelink Technologies Co is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 4,072 in Accelink Technologies Co on October 9, 2024 and sell it today you would earn a total of 694.00 from holding Accelink Technologies Co or generate 17.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Boss Software vs. Accelink Technologies Co
Performance |
| Timeline |
| Fujian Boss Software |
| Accelink Technologies |
Fujian Boss and Accelink Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Boss and Accelink Technologies
The main advantage of trading using opposite Fujian Boss and Accelink Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Boss position performs unexpectedly, Accelink Technologies 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 Accelink Technologies will offset losses from the drop in Accelink Technologies' long position.| Fujian Boss vs. Zhejiang Publishing Media | Fujian Boss vs. Anhui Transport Consulting | Fujian Boss vs. Offcn Education Technology | Fujian Boss vs. Shandong Publishing Media |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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