Correlation Between Sihui Fuji and China Securities
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By analyzing existing cross correlation between Sihui Fuji Electronics and China Securities 800, you can compare the effects of market volatilities on Sihui Fuji and China Securities 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 China Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and China Securities.
Diversification Opportunities for Sihui Fuji and China Securities
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Sihui and China is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and China Securities 800 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Securities 800 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 China Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Securities 800 has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and China Securities go up and down completely randomly.
Pair Corralation between Sihui Fuji and China Securities
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 3.34 times more return on investment than China Securities. However, Sihui Fuji is 3.34 times more volatile than China Securities 800. It trades about 0.08 of its potential returns per unit of risk. China Securities 800 is currently generating about -0.11 per unit of risk. If you would invest 2,767 in Sihui Fuji Electronics on October 24, 2024 and sell it today you would earn a total of 143.00 from holding Sihui Fuji Electronics or generate 5.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. China Securities 800
Performance |
| Timeline |
Sihui Fuji and China Securities Volatility Contrast
Predicted Return Density |
| Returns |
Sihui Fuji Electronics
Pair trading matchups for Sihui Fuji
China Securities 800
Pair trading matchups for China Securities
Pair Trading with Sihui Fuji and China Securities
The main advantage of trading using opposite Sihui Fuji and China Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, China Securities 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 China Securities will offset losses from the drop in China Securities' long position.| Sihui Fuji vs. Mango Excellent Media | Sihui Fuji vs. Southern PublishingMedia Co | Sihui Fuji vs. Chengdu B ray Media | Sihui Fuji vs. Shandong Sanyuan Biotechnology |
| China Securities vs. Anhui Shiny Electronic | China Securities vs. Aurora Optoelectronics Co | China Securities vs. Success Electronics | China Securities vs. Sihui Fuji Electronics |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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