Correlation Between Sihui Fuji and Nanjing OLO
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By analyzing existing cross correlation between Sihui Fuji Electronics and Nanjing OLO Home, you can compare the effects of market volatilities on Sihui Fuji and Nanjing OLO 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 Nanjing OLO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Nanjing OLO.
Diversification Opportunities for Sihui Fuji and Nanjing OLO
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sihui and Nanjing is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Nanjing OLO Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nanjing OLO Home 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 Nanjing OLO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nanjing OLO Home has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Nanjing OLO go up and down completely randomly.
Pair Corralation between Sihui Fuji and Nanjing OLO
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.0 times more return on investment than Nanjing OLO. However, Sihui Fuji is 1.0 times more volatile than Nanjing OLO Home. It trades about 0.03 of its potential returns per unit of risk. Nanjing OLO Home is currently generating about -0.01 per unit of risk. If you would invest 2,525 in Sihui Fuji Electronics on October 28, 2024 and sell it today you would earn a total of 545.00 from holding Sihui Fuji Electronics or generate 21.58% 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. Nanjing OLO Home
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Nanjing OLO Home |
Sihui Fuji and Nanjing OLO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Nanjing OLO
The main advantage of trading using opposite Sihui Fuji and Nanjing OLO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Nanjing OLO 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 Nanjing OLO will offset losses from the drop in Nanjing OLO's long position.| Sihui Fuji vs. Hangzhou Gisway Information | Sihui Fuji vs. Hubei Geoway Investment | Sihui Fuji vs. Guangzhou Ruoyuchen Information | Sihui Fuji vs. Xiamen Insight Investment |
| Nanjing OLO vs. Shenwu Energy Saving | Nanjing OLO vs. Xinjiang Baodi Mining | Nanjing OLO vs. Xiamen Bank Co | Nanjing OLO vs. Guosheng Financial Holding |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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