Correlation Between Sihui Fuji and Fujian Anjoy
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By analyzing existing cross correlation between Sihui Fuji Electronics and Fujian Anjoy Foods, you can compare the effects of market volatilities on Sihui Fuji and Fujian Anjoy 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 Fujian Anjoy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and Fujian Anjoy.
Diversification Opportunities for Sihui Fuji and Fujian Anjoy
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sihui and Fujian is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and Fujian Anjoy Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Anjoy Foods 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 Fujian Anjoy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Anjoy Foods has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and Fujian Anjoy go up and down completely randomly.
Pair Corralation between Sihui Fuji and Fujian Anjoy
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.23 times more return on investment than Fujian Anjoy. However, Sihui Fuji is 1.23 times more volatile than Fujian Anjoy Foods. It trades about 0.1 of its potential returns per unit of risk. Fujian Anjoy Foods is currently generating about 0.01 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 Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sihui Fuji Electronics vs. Fujian Anjoy Foods
Performance |
| Timeline |
| Sihui Fuji Electronics |
| Fujian Anjoy Foods |
Sihui Fuji and Fujian Anjoy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and Fujian Anjoy
The main advantage of trading using opposite Sihui Fuji and Fujian Anjoy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, Fujian Anjoy 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 Fujian Anjoy will offset losses from the drop in Fujian Anjoy'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 |
| Fujian Anjoy vs. Grandblue Environment Co | Fujian Anjoy vs. Xiandai Investment Co | Fujian Anjoy vs. Qiaoyin Environmental Tech | Fujian Anjoy vs. Zhejiang Construction Investment |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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