Correlation Between Suzhou Fushilai and Success Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between Suzhou Fushilai Pharmaceutical and Success Electronics, you can compare the effects of market volatilities on Suzhou Fushilai and Success Electronics 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 Suzhou Fushilai with a short position of Success Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Fushilai and Success Electronics.
Diversification Opportunities for Suzhou Fushilai and Success Electronics
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Suzhou and Success is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Fushilai Pharmaceutical and Success Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Success Electronics and Suzhou Fushilai 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 Suzhou Fushilai Pharmaceutical are associated (or correlated) with Success Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Success Electronics has no effect on the direction of Suzhou Fushilai i.e., Suzhou Fushilai and Success Electronics go up and down completely randomly.
Pair Corralation between Suzhou Fushilai and Success Electronics
Assuming the 90 days trading horizon Suzhou Fushilai Pharmaceutical is expected to generate 1.05 times more return on investment than Success Electronics. However, Suzhou Fushilai is 1.05 times more volatile than Success Electronics. It trades about 0.0 of its potential returns per unit of risk. Success Electronics is currently generating about -0.02 per unit of risk. If you would invest 3,901 in Suzhou Fushilai Pharmaceutical on September 14, 2024 and sell it today you would lose (1,058) from holding Suzhou Fushilai Pharmaceutical or give up 27.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
Suzhou Fushilai Pharmaceutical vs. Success Electronics
Performance |
| Timeline |
| Suzhou Fushilai Phar |
| Success Electronics |
Suzhou Fushilai and Success Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Fushilai and Success Electronics
The main advantage of trading using opposite Suzhou Fushilai and Success Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Fushilai position performs unexpectedly, Success Electronics 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 Success Electronics will offset losses from the drop in Success Electronics' long position.| Suzhou Fushilai vs. Fujian Newland Computer | Suzhou Fushilai vs. Guangzhou Haige Communications | Suzhou Fushilai vs. Jinling Hotel Corp | Suzhou Fushilai vs. Tongyu Communication |
| Success Electronics vs. Industrial and Commercial | Success Electronics vs. Agricultural Bank of | Success Electronics vs. China Construction Bank | Success Electronics vs. Bank of China |
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.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |