Correlation Between Sihui Fuji and Glodon Software
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sihui Fuji Electronics and Glodon Software Co, you can compare the effects of market volatilities on Sihui Fuji and Glodon Software 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 Glodon Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Glodon Software.
Diversification Opportunities for Sihui Fuji and Glodon Software
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sihui and Glodon is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Glodon Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glodon Software 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 Glodon Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glodon Software has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Glodon Software go up and down completely randomly.
Pair Corralation between Sihui Fuji and Glodon Software
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.2 times more return on investment than Glodon Software. However, Sihui Fuji is 1.2 times more volatile than Glodon Software Co. It trades about 0.09 of its potential returns per unit of risk. Glodon Software Co is currently generating about -0.1 per unit of risk. If you would invest 2,678 in Sihui Fuji Electronics on November 6, 2024 and sell it today you would earn a total of 407.00 from holding Sihui Fuji Electronics or generate 15.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Glodon Software Co
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Glodon Software |
Sihui Fuji and Glodon Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Glodon Software
The main advantage of trading using opposite Sihui Fuji and Glodon Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Glodon Software 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 Glodon Software will offset losses from the drop in Glodon Software's long position.| Sihui Fuji vs. Jiaozuo Wanfang Aluminum | Sihui Fuji vs. Hefei Metalforming Mach | Sihui Fuji vs. Guangdong Jingyi Metal | Sihui Fuji vs. Shenzhen Urban Transport |
| Glodon Software vs. Gem Year Industrial Co | Glodon Software vs. Tianjin Silvery Dragon | Glodon Software vs. Dymatic Chemicals | Glodon Software vs. Guangdong Silvere Sci |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |