Correlation Between Sihui Fuji and Mango Excellent
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By analyzing existing cross correlation between Sihui Fuji Electronics and Mango Excellent Media, you can compare the effects of market volatilities on Sihui Fuji and Mango Excellent 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 Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Mango Excellent.
Diversification Opportunities for Sihui Fuji and Mango Excellent
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Sihui and Mango is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media 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 Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Mango Excellent go up and down completely randomly.
Pair Corralation between Sihui Fuji and Mango Excellent
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.97 times more return on investment than Mango Excellent. However, Sihui Fuji is 1.97 times more volatile than Mango Excellent Media. It trades about 0.09 of its potential returns per unit of risk. Mango Excellent Media is currently generating about 0.01 per unit of risk. If you would invest 2,897 in Sihui Fuji Electronics on October 28, 2024 and sell it today you would earn a total of 173.00 from holding Sihui Fuji Electronics or generate 5.97% 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. Mango Excellent Media
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Mango Excellent Media |
Sihui Fuji and Mango Excellent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Mango Excellent
The main advantage of trading using opposite Sihui Fuji and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.| Sihui Fuji vs. Hangzhou Gisway Information | Sihui Fuji vs. Hubei Geoway Investment | Sihui Fuji vs. Guangzhou Ruoyuchen Information | Sihui Fuji vs. Xiamen Insight Investment |
| Mango Excellent vs. ROPEOK Technology Group | Mango Excellent vs. Bangyan Technology Co | Mango Excellent vs. Linewell Software Co | Mango Excellent vs. Guangzhou KingTeller Technology |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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