Correlation Between Fujian Boss and Chenzhou Jingui
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By analyzing existing cross correlation between Fujian Boss Software and Chenzhou Jingui Silver, you can compare the effects of market volatilities on Fujian Boss and Chenzhou Jingui 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 Chenzhou Jingui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Boss and Chenzhou Jingui.
Diversification Opportunities for Fujian Boss and Chenzhou Jingui
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fujian and Chenzhou is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Boss Software and Chenzhou Jingui Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chenzhou Jingui Silver 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 Chenzhou Jingui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chenzhou Jingui Silver has no effect on the direction of Fujian Boss i.e., Fujian Boss and Chenzhou Jingui go up and down completely randomly.
Pair Corralation between Fujian Boss and Chenzhou Jingui
Assuming the 90 days trading horizon Fujian Boss Software is expected to under-perform the Chenzhou Jingui. But the stock apears to be less risky and, when comparing its historical volatility, Fujian Boss Software is 1.02 times less risky than Chenzhou Jingui. The stock trades about 0.0 of its potential returns per unit of risk. The Chenzhou Jingui Silver is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 327.00 in Chenzhou Jingui Silver on October 29, 2024 and sell it today you would earn a total of 28.00 from holding Chenzhou Jingui Silver or generate 8.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Boss Software vs. Chenzhou Jingui Silver
Performance |
| Timeline |
| Fujian Boss Software |
| Chenzhou Jingui Silver |
Fujian Boss and Chenzhou Jingui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Boss and Chenzhou Jingui
The main advantage of trading using opposite Fujian Boss and Chenzhou Jingui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Boss position performs unexpectedly, Chenzhou Jingui 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 Chenzhou Jingui will offset losses from the drop in Chenzhou Jingui's long position.| Fujian Boss vs. Guangdong Jingyi Metal | Fujian Boss vs. BTG Hotels Group | Fujian Boss vs. Ningbo Ligong Online | Fujian Boss vs. Tibet Huayu Mining |
| Chenzhou Jingui vs. Hangzhou Guotai Environmental | Chenzhou Jingui vs. City Development Environment | Chenzhou Jingui vs. Elite Color Environmental | Chenzhou Jingui vs. Changjiang Jinggong Steel |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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