Correlation Between Sihui Fuji and Guangdong TianYiMa
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By analyzing existing cross correlation between Sihui Fuji Electronics and Guangdong TianYiMa Information, you can compare the effects of market volatilities on Sihui Fuji and Guangdong TianYiMa 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 Guangdong TianYiMa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Guangdong TianYiMa.
Diversification Opportunities for Sihui Fuji and Guangdong TianYiMa
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sihui and Guangdong is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Guangdong TianYiMa Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong TianYiMa 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 Guangdong TianYiMa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong TianYiMa has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Guangdong TianYiMa go up and down completely randomly.
Pair Corralation between Sihui Fuji and Guangdong TianYiMa
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.3 times more return on investment than Guangdong TianYiMa. However, Sihui Fuji is 1.3 times more volatile than Guangdong TianYiMa Information. It trades about 0.12 of its potential returns per unit of risk. Guangdong TianYiMa Information is currently generating about -0.07 per unit of risk. If you would invest 2,840 in Sihui Fuji Electronics on October 30, 2024 and sell it today you would earn a total of 245.00 from holding Sihui Fuji Electronics or generate 8.63% 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. Guangdong TianYiMa Information
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Guangdong TianYiMa |
Sihui Fuji and Guangdong TianYiMa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Guangdong TianYiMa
The main advantage of trading using opposite Sihui Fuji and Guangdong TianYiMa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Guangdong TianYiMa 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 Guangdong TianYiMa will offset losses from the drop in Guangdong TianYiMa's long position.| Sihui Fuji vs. Jiaozuo Wanfang Aluminum | Sihui Fuji vs. Fiberhome Telecommunication Technologies | Sihui Fuji vs. Ziel Home Furnishing | Sihui Fuji vs. Shanghai Yanpu Metal |
| Guangdong TianYiMa vs. Namchow Food Group | Guangdong TianYiMa vs. Youyou Foods Co | Guangdong TianYiMa vs. HaiXin Foods Co | Guangdong TianYiMa vs. CITIC Metal 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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