Correlation Between Sihui Fuji and Qiming Information
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By analyzing existing cross correlation between Sihui Fuji Electronics and Qiming Information Technology, you can compare the effects of market volatilities on Sihui Fuji and Qiming Information 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 Qiming Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Qiming Information.
Diversification Opportunities for Sihui Fuji and Qiming Information
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sihui and Qiming is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Qiming Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qiming Information 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 Qiming Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qiming Information has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Qiming Information go up and down completely randomly.
Pair Corralation between Sihui Fuji and Qiming Information
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 0.97 times more return on investment than Qiming Information. However, Sihui Fuji Electronics is 1.04 times less risky than Qiming Information. It trades about 0.03 of its potential returns per unit of risk. Qiming Information Technology is currently generating about -0.15 per unit of risk. If you would invest 2,760 in Sihui Fuji Electronics on October 17, 2024 and sell it today you would earn a total of 33.00 from holding Sihui Fuji Electronics or generate 1.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Qiming Information Technology
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Qiming Information |
Sihui Fuji and Qiming Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Qiming Information
The main advantage of trading using opposite Sihui Fuji and Qiming Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Qiming Information 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 Qiming Information will offset losses from the drop in Qiming Information's long position.| Sihui Fuji vs. Qiming Information Technology | Sihui Fuji vs. Jiangsu Xinri E Vehicle | Sihui Fuji vs. Zhongfu Information | Sihui Fuji vs. Easyhome New Retail |
| Qiming Information vs. China Sports Industry | Qiming Information vs. Shuhua Sports Co | Qiming Information vs. Hubeiyichang Transportation Group | Qiming Information vs. Dosilicon Co |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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