Correlation Between Sihui Fuji and China Enterprise
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By analyzing existing cross correlation between Sihui Fuji Electronics and China Enterprise Co, you can compare the effects of market volatilities on Sihui Fuji and China Enterprise 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 Enterprise. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and China Enterprise.
Diversification Opportunities for Sihui Fuji and China Enterprise
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Sihui and China is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and China Enterprise Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Enterprise 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 Enterprise. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Enterprise has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and China Enterprise go up and down completely randomly.
Pair Corralation between Sihui Fuji and China Enterprise
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.1 times more return on investment than China Enterprise. However, Sihui Fuji is 1.1 times more volatile than China Enterprise Co. It trades about 0.02 of its potential returns per unit of risk. China Enterprise Co is currently generating about 0.01 per unit of risk. If you would invest 2,502 in Sihui Fuji Electronics on October 16, 2024 and sell it today you would earn a total of 193.00 from holding Sihui Fuji Electronics or generate 7.71% 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. China Enterprise Co
Performance |
| Timeline |
| Sihui Fuji Electronics |
| China Enterprise |
Sihui Fuji and China Enterprise Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and China Enterprise
The main advantage of trading using opposite Sihui Fuji and China Enterprise positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, China Enterprise 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 Enterprise will offset losses from the drop in China Enterprise's long position.| Sihui Fuji vs. Chahua Modern Housewares | Sihui Fuji vs. Kontour Medical Technology | Sihui Fuji vs. Yindu Kitchen Equipment | Sihui Fuji vs. Cowealth Medical China |
| China Enterprise vs. Xinya Electronic Co | China Enterprise vs. Sihui Fuji Electronics | China Enterprise vs. Anhui Shiny Electronic | China Enterprise vs. TongFu Microelectronics 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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