Correlation Between Sihui Fuji and Southern PublishingMedia
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By analyzing existing cross correlation between Sihui Fuji Electronics and Southern PublishingMedia Co, you can compare the effects of market volatilities on Sihui Fuji and Southern PublishingMedia 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 Southern PublishingMedia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Southern PublishingMedia.
Diversification Opportunities for Sihui Fuji and Southern PublishingMedia
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sihui and Southern is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Southern PublishingMedia Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern PublishingMedia 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 Southern PublishingMedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern PublishingMedia has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Southern PublishingMedia go up and down completely randomly.
Pair Corralation between Sihui Fuji and Southern PublishingMedia
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.24 times more return on investment than Southern PublishingMedia. However, Sihui Fuji is 1.24 times more volatile than Southern PublishingMedia Co. It trades about 0.1 of its potential returns per unit of risk. Southern PublishingMedia Co is currently generating about 0.11 per unit of risk. If you would invest 2,179 in Sihui Fuji Electronics on November 3, 2024 and sell it today you would earn a total of 906.00 from holding Sihui Fuji Electronics or generate 41.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Southern PublishingMedia Co
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Southern PublishingMedia |
Sihui Fuji and Southern PublishingMedia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Southern PublishingMedia
The main advantage of trading using opposite Sihui Fuji and Southern PublishingMedia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Southern PublishingMedia 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 Southern PublishingMedia will offset losses from the drop in Southern PublishingMedia's long position.| Sihui Fuji vs. Maxvision Technology Corp | Sihui Fuji vs. Olympic Circuit Technology | Sihui Fuji vs. ROPEOK Technology Group | Sihui Fuji vs. Fibocom Wireless |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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