Correlation Between Fujian Nanwang and DO Home
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By analyzing existing cross correlation between Fujian Nanwang Environment and DO Home Collection, you can compare the effects of market volatilities on Fujian Nanwang and DO Home 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 Fujian Nanwang with a short position of DO Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Nanwang and DO Home.
Diversification Opportunities for Fujian Nanwang and DO Home
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Fujian and 002798 is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Nanwang Environment and DO Home Collection in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DO Home Collection and Fujian Nanwang 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 Fujian Nanwang Environment are associated (or correlated) with DO Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DO Home Collection has no effect on the direction of Fujian Nanwang i.e., Fujian Nanwang and DO Home go up and down completely randomly.
Pair Corralation between Fujian Nanwang and DO Home
Assuming the 90 days trading horizon Fujian Nanwang Environment is expected to generate 0.38 times more return on investment than DO Home. However, Fujian Nanwang Environment is 2.65 times less risky than DO Home. It trades about 0.18 of its potential returns per unit of risk. DO Home Collection is currently generating about -0.32 per unit of risk. If you would invest 1,312 in Fujian Nanwang Environment on October 15, 2024 and sell it today you would earn a total of 87.00 from holding Fujian Nanwang Environment or generate 6.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Nanwang Environment vs. DO Home Collection
Performance |
| Timeline |
| Fujian Nanwang Envir |
| DO Home Collection |
Fujian Nanwang and DO Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Nanwang and DO Home
The main advantage of trading using opposite Fujian Nanwang and DO Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Nanwang position performs unexpectedly, DO Home 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 DO Home will offset losses from the drop in DO Home's long position.| Fujian Nanwang vs. Keeson Technology Corp | Fujian Nanwang vs. Dawning Information Industry | Fujian Nanwang vs. ROPEOK Technology Group | Fujian Nanwang vs. Maxvision Technology Corp |
| DO Home vs. Gansu Jiu Steel | DO Home vs. Aofu Environmental Technology | DO Home vs. Fujian Nanwang Environment | DO Home vs. Holitech Technology Co |
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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