Correlation Between Sihui Fuji and Jointo Energy
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By analyzing existing cross correlation between Sihui Fuji Electronics and Jointo Energy Investment, you can compare the effects of market volatilities on Sihui Fuji and Jointo Energy 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 Sihui Fuji with a short position of Jointo Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Jointo Energy.
Diversification Opportunities for Sihui Fuji and Jointo Energy
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sihui and Jointo is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Jointo Energy Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jointo Energy Investment and Sihui Fuji 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 Sihui Fuji Electronics are associated (or correlated) with Jointo Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jointo Energy Investment has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Jointo Energy go up and down completely randomly.
Pair Corralation between Sihui Fuji and Jointo Energy
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.42 times more return on investment than Jointo Energy. However, Sihui Fuji is 1.42 times more volatile than Jointo Energy Investment. It trades about 0.02 of its potential returns per unit of risk. Jointo Energy Investment is currently generating about 0.02 per unit of risk. If you would invest 2,749 in Sihui Fuji Electronics on September 26, 2024 and sell it today you would earn a total of 136.00 from holding Sihui Fuji Electronics or generate 4.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Jointo Energy Investment
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Jointo Energy Investment |
Sihui Fuji and Jointo Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Jointo Energy
The main advantage of trading using opposite Sihui Fuji and Jointo Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Jointo Energy 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 Jointo Energy will offset losses from the drop in Jointo Energy's long position.| Sihui Fuji vs. Jointo Energy Investment | Sihui Fuji vs. Changchun UP Optotech | Sihui Fuji vs. Henan Shuanghui Investment | Sihui Fuji vs. Tieling Newcity Investment |
| Jointo Energy vs. Zhejiang Daily Media | Jointo Energy vs. Zhejiang JIULI Hi tech | Jointo Energy vs. Eastern Communications Co | Jointo Energy vs. Kuang Chi Technologies |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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