Correlation Between Suzhou Fushilai and Integrated Electronic
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By analyzing existing cross correlation between Suzhou Fushilai Pharmaceutical and Integrated Electronic Systems, you can compare the effects of market volatilities on Suzhou Fushilai and Integrated Electronic 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 Integrated Electronic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Fushilai and Integrated Electronic.
Diversification Opportunities for Suzhou Fushilai and Integrated Electronic
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Suzhou and Integrated is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Fushilai Pharmaceutical and Integrated Electronic Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrated Electronic 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 Integrated Electronic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrated Electronic has no effect on the direction of Suzhou Fushilai i.e., Suzhou Fushilai and Integrated Electronic go up and down completely randomly.
Pair Corralation between Suzhou Fushilai and Integrated Electronic
Assuming the 90 days trading horizon Suzhou Fushilai Pharmaceutical is expected to under-perform the Integrated Electronic. In addition to that, Suzhou Fushilai is 1.03 times more volatile than Integrated Electronic Systems. It trades about 0.0 of its total potential returns per unit of risk. Integrated Electronic Systems is currently generating about 0.03 per unit of volatility. If you would invest 653.00 in Integrated Electronic Systems on September 14, 2024 and sell it today you would earn a total of 109.00 from holding Integrated Electronic Systems or generate 16.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.79% |
| Values | Daily Returns |
Suzhou Fushilai Pharmaceutical vs. Integrated Electronic Systems
Performance |
| Timeline |
| Suzhou Fushilai Phar |
| Integrated Electronic |
Suzhou Fushilai and Integrated Electronic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Fushilai and Integrated Electronic
The main advantage of trading using opposite Suzhou Fushilai and Integrated Electronic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Fushilai position performs unexpectedly, Integrated Electronic 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 Integrated Electronic will offset losses from the drop in Integrated Electronic's 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 |
| Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. China Construction Bank | Integrated Electronic 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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