Correlation Between Sihui Fuji and Epoxy Base
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By analyzing existing cross correlation between Sihui Fuji Electronics and Epoxy Base Electronic, you can compare the effects of market volatilities on Sihui Fuji and Epoxy Base 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 Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Epoxy Base.
Diversification Opportunities for Sihui Fuji and Epoxy Base
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sihui and Epoxy is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base Electronic 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 Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Epoxy Base go up and down completely randomly.
Pair Corralation between Sihui Fuji and Epoxy Base
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.15 times more return on investment than Epoxy Base. However, Sihui Fuji is 1.15 times more volatile than Epoxy Base Electronic. It trades about 0.09 of its potential returns per unit of risk. Epoxy Base Electronic is currently generating about 0.0 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 | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Epoxy Base Electronic
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Epoxy Base Electronic |
Sihui Fuji and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Epoxy Base
The main advantage of trading using opposite Sihui Fuji and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base's 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 |
| Epoxy Base vs. Xizi Clean Energy | Epoxy Base vs. Ziel Home Furnishing | Epoxy Base vs. Zoy Home Furnishing | Epoxy Base vs. Shandong Longquan Pipeline |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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