Correlation Between Fibocom Wireless and Lotus Health
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By analyzing existing cross correlation between Fibocom Wireless and Lotus Health Group, you can compare the effects of market volatilities on Fibocom Wireless and Lotus Health 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 Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibocom Wireless and Lotus Health.
Diversification Opportunities for Fibocom Wireless and Lotus Health
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fibocom and Lotus is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Fibocom Wireless and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group 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 Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of Fibocom Wireless i.e., Fibocom Wireless and Lotus Health go up and down completely randomly.
Pair Corralation between Fibocom Wireless and Lotus Health
Assuming the 90 days trading horizon Fibocom Wireless is expected to generate 0.92 times more return on investment than Lotus Health. However, Fibocom Wireless is 1.09 times less risky than Lotus Health. It trades about 0.13 of its potential returns per unit of risk. Lotus Health Group is currently generating about 0.05 per unit of risk. If you would invest 1,425 in Fibocom Wireless on October 14, 2024 and sell it today you would earn a total of 472.00 from holding Fibocom Wireless or generate 33.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fibocom Wireless vs. Lotus Health Group
Performance |
| Timeline |
| Fibocom Wireless |
| Lotus Health Group |
Fibocom Wireless and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibocom Wireless and Lotus Health
The main advantage of trading using opposite Fibocom Wireless and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibocom Wireless position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| Fibocom Wireless vs. Touchstone International Medical | Fibocom Wireless vs. StarPower Semiconductor | Fibocom Wireless vs. Shenzhen Glory Medical | Fibocom Wireless vs. Eyebright Medical Technology |
| Lotus Health vs. Sunwave Communications Co | Lotus Health vs. Xiangyang Automobile Bearing | Lotus Health vs. Fibocom Wireless | Lotus Health vs. Anhui Jianghuai Automobile |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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