Correlation Between Sihui Fuji and China Sports
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By analyzing existing cross correlation between Sihui Fuji Electronics and China Sports Industry, you can compare the effects of market volatilities on Sihui Fuji and China Sports 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 China Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and China Sports.
Diversification Opportunities for Sihui Fuji and China Sports
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sihui and China is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and China Sports Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Sports Industry 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 China Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Sports Industry has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and China Sports go up and down completely randomly.
Pair Corralation between Sihui Fuji and China Sports
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 2.07 times more return on investment than China Sports. However, Sihui Fuji is 2.07 times more volatile than China Sports Industry. It trades about 0.09 of its potential returns per unit of risk. China Sports Industry is currently generating about -0.24 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 | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. China Sports Industry
Performance |
| Timeline |
| Sihui Fuji Electronics |
| China Sports Industry |
Sihui Fuji and China Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and China Sports
The main advantage of trading using opposite Sihui Fuji and China Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, China Sports 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 China Sports will offset losses from the drop in China Sports' long position.| Sihui Fuji vs. Jiugui Liquor Co | Sihui Fuji vs. Beijing Kingsoft Office | Sihui Fuji vs. Shandong Hi Speed RoadBridge | Sihui Fuji vs. Hainan Airlines Co |
| China Sports vs. Agricultural Bank of | China Sports vs. Industrial and Commercial | China Sports vs. Bank of China | China Sports vs. China Construction Bank |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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