Correlation Between Fujian Nanwang and Sichuan Jinshi
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By analyzing existing cross correlation between Fujian Nanwang Environment and Sichuan Jinshi Technology, you can compare the effects of market volatilities on Fujian Nanwang and Sichuan Jinshi 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 Sichuan Jinshi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Nanwang and Sichuan Jinshi.
Diversification Opportunities for Fujian Nanwang and Sichuan Jinshi
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fujian and Sichuan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Nanwang Environment and Sichuan Jinshi Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Jinshi Technology 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 Sichuan Jinshi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Jinshi Technology has no effect on the direction of Fujian Nanwang i.e., Fujian Nanwang and Sichuan Jinshi go up and down completely randomly.
Pair Corralation between Fujian Nanwang and Sichuan Jinshi
If you would invest (100.00) in Sichuan Jinshi Technology on November 5, 2024 and sell it today you would earn a total of 100.00 from holding Sichuan Jinshi Technology or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Fujian Nanwang Environment vs. Sichuan Jinshi Technology
Performance |
| Timeline |
| Fujian Nanwang Envir |
| Sichuan Jinshi Technology |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Fujian Nanwang and Sichuan Jinshi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Nanwang and Sichuan Jinshi
The main advantage of trading using opposite Fujian Nanwang and Sichuan Jinshi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Nanwang position performs unexpectedly, Sichuan Jinshi 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 Sichuan Jinshi will offset losses from the drop in Sichuan Jinshi's long position.| Fujian Nanwang vs. Guangzhou Jointas Chemical | Fujian Nanwang vs. Shanghai Xinhua Media | Fujian Nanwang vs. Mango Excellent Media | Fujian Nanwang vs. Chengdu B ray Media |
| Sichuan Jinshi vs. Guangdong Marubi Biotechnology | Sichuan Jinshi vs. Citic Guoan Wine | Sichuan Jinshi vs. Fujian Wanchen Biotechnology | Sichuan Jinshi vs. HMTNew Technical |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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