Correlation Between Sihui Fuji and APT Medical
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By analyzing existing cross correlation between Sihui Fuji Electronics and APT Medical, you can compare the effects of market volatilities on Sihui Fuji and APT Medical 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 APT Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and APT Medical.
Diversification Opportunities for Sihui Fuji and APT Medical
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sihui and APT is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and APT Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APT Medical 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 APT Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APT Medical has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and APT Medical go up and down completely randomly.
Pair Corralation between Sihui Fuji and APT Medical
Assuming the 90 days trading horizon Sihui Fuji Electronics is expected to generate 1.83 times more return on investment than APT Medical. However, Sihui Fuji is 1.83 times more volatile than APT Medical. It trades about 0.12 of its potential returns per unit of risk. APT Medical is currently generating about 0.11 per unit of risk. If you would invest 2,840 in Sihui Fuji Electronics on October 30, 2024 and sell it today you would earn a total of 245.00 from holding Sihui Fuji Electronics or generate 8.63% 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. APT Medical
Performance |
| Timeline |
| Sihui Fuji Electronics |
| APT Medical |
Sihui Fuji and APT Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sihui Fuji and APT Medical
The main advantage of trading using opposite Sihui Fuji and APT Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, APT Medical 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 APT Medical will offset losses from the drop in APT Medical's long position.| Sihui Fuji vs. Jiaozuo Wanfang Aluminum | Sihui Fuji vs. Fiberhome Telecommunication Technologies | Sihui Fuji vs. Ziel Home Furnishing | Sihui Fuji vs. Shanghai Yanpu Metal |
| APT Medical vs. StarPower Semiconductor | APT Medical vs. Giantec Semiconductor Corp | APT Medical vs. Lontium Semiconductor Corp | APT Medical vs. Suzhou Oriental Semiconductor |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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