Correlation Between Sihui Fuji and Integrated Electronic
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By analyzing existing cross correlation between Sihui Fuji Electronics and Integrated Electronic Systems, you can compare the effects of market volatilities on Sihui Fuji and Integrated Electronic 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 Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Integrated Electronic.
Diversification Opportunities for Sihui Fuji and Integrated Electronic
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sihui and Integrated is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic 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 Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Integrated Electronic go up and down completely randomly.
Pair Corralation between Sihui Fuji and Integrated Electronic
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 0.71 times more return on investment than Integrated Electronic. However, Sihui Fuji Electronics is 1.4 times less risky than Integrated Electronic. It trades about 0.02 of its potential returns per unit of risk. Integrated Electronic Systems is currently generating about -0.15 per unit of risk. If you would invest 2,742 in Sihui Fuji Electronics on October 14, 2024 and sell it today you would lose (2.00) from holding Sihui Fuji Electronics or give up 0.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Integrated Electronic Systems
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Integrated Electronic |
Sihui Fuji and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Integrated Electronic
The main advantage of trading using opposite Sihui Fuji and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's long position.| Sihui Fuji vs. Huizhou Speed Wireless | Sihui Fuji vs. Haima Automobile Group | Sihui Fuji vs. Iat Automobile Technology | Sihui Fuji vs. Guangdong Jingyi Metal |
| Integrated Electronic vs. Wuhan Yangtze Communication | Integrated Electronic vs. Dr Peng Telecom | Integrated Electronic vs. Beijing Kingsoft Office | Integrated Electronic vs. Eastern Communications 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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