Correlation Between Sihui Fuji and China Railway
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By analyzing existing cross correlation between Sihui Fuji Electronics and China Railway Construction, you can compare the effects of market volatilities on Sihui Fuji and China Railway 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 Railway. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and China Railway.
Diversification Opportunities for Sihui Fuji and China Railway
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sihui and China is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and China Railway Construction in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Railway Constr 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 Railway. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Railway Constr has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and China Railway go up and down completely randomly.
Pair Corralation between Sihui Fuji and China Railway
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.92 times more return on investment than China Railway. However, Sihui Fuji is 1.92 times more volatile than China Railway Construction. It trades about 0.27 of its potential returns per unit of risk. China Railway Construction is currently generating about 0.11 per unit of risk. If you would invest 2,556 in Sihui Fuji Electronics on September 26, 2024 and sell it today you would earn a total of 329.00 from holding Sihui Fuji Electronics or generate 12.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. China Railway Construction
Performance |
| Timeline |
| Sihui Fuji Electronics |
| China Railway Constr |
Sihui Fuji and China Railway Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and China Railway
The main advantage of trading using opposite Sihui Fuji and China Railway positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, China Railway 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 Railway will offset losses from the drop in China Railway's long position.| Sihui Fuji vs. Jointo Energy Investment | Sihui Fuji vs. Changchun UP Optotech | Sihui Fuji vs. Henan Shuanghui Investment | Sihui Fuji vs. Tieling Newcity Investment |
| China Railway vs. Cangzhou Mingzhu Plastic | China Railway vs. Chongqing Sulian Plastic | China Railway vs. GRIPM Advanced Materials | China Railway vs. Advanced Technology Materials |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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