Correlation Between Fibocom Wireless and Imeik Technology
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By analyzing existing cross correlation between Fibocom Wireless and Imeik Technology Development, you can compare the effects of market volatilities on Fibocom Wireless and Imeik 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 Fibocom Wireless with a short position of Imeik Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibocom Wireless and Imeik Technology.
Diversification Opportunities for Fibocom Wireless and Imeik Technology
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Fibocom and Imeik is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Fibocom Wireless and Imeik Technology Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Imeik Technology Dev and Fibocom Wireless 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 Fibocom Wireless are associated (or correlated) with Imeik Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Imeik Technology Dev has no effect on the direction of Fibocom Wireless i.e., Fibocom Wireless and Imeik Technology go up and down completely randomly.
Pair Corralation between Fibocom Wireless and Imeik Technology
Assuming the 90 days trading horizon Fibocom Wireless is expected to generate 2.11 times more return on investment than Imeik Technology. However, Fibocom Wireless is 2.11 times more volatile than Imeik Technology Development. It trades about 0.05 of its potential returns per unit of risk. Imeik Technology Development is currently generating about -0.47 per unit of risk. If you would invest 1,819 in Fibocom Wireless on October 11, 2024 and sell it today you would earn a total of 59.00 from holding Fibocom Wireless or generate 3.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fibocom Wireless vs. Imeik Technology Development
Performance |
| Timeline |
| Fibocom Wireless |
| Imeik Technology Dev |
Fibocom Wireless and Imeik Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibocom Wireless and Imeik Technology
The main advantage of trading using opposite Fibocom Wireless and Imeik Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibocom Wireless position performs unexpectedly, Imeik 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 Imeik Technology will offset losses from the drop in Imeik Technology's long position.| Fibocom Wireless vs. Nexchip Semiconductor Corp | Fibocom Wireless vs. V V Food | Fibocom Wireless vs. Yankershop Food Co | Fibocom Wireless vs. Eastroc Beverage Group |
| Imeik Technology vs. Runjian Communication Co | Imeik Technology vs. Dymatic Chemicals | Imeik Technology vs. Do Fluoride Chemicals Co | Imeik Technology vs. Fibocom Wireless |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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