Correlation Between Hubei Geoway and Sihui Fuji
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By analyzing existing cross correlation between Hubei Geoway Investment and Sihui Fuji Electronics, you can compare the effects of market volatilities on Hubei Geoway and Sihui Fuji 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 Hubei Geoway with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hubei Geoway and Sihui Fuji.
Diversification Opportunities for Hubei Geoway and Sihui Fuji
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Hubei and Sihui is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Hubei Geoway Investment and Sihui Fuji Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sihui Fuji Electronics and Hubei Geoway 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 Hubei Geoway Investment are associated (or correlated) with Sihui Fuji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sihui Fuji Electronics has no effect on the direction of Hubei Geoway i.e., Hubei Geoway and Sihui Fuji go up and down completely randomly.
Pair Corralation between Hubei Geoway and Sihui Fuji
Assuming the 90 days trading horizon Hubei Geoway Investment is expected to under-perform the Sihui Fuji. But the stock apears to be less risky and, when comparing its historical volatility, Hubei Geoway Investment is 1.14 times less risky than Sihui Fuji. The stock trades about -0.01 of its potential returns per unit of risk. The Sihui Fuji Electronics is currently generating about 0.39 of returns per unit of risk over similar time horizon. If you would invest 2,455 in Sihui Fuji Electronics on November 6, 2024 and sell it today you would earn a total of 630.00 from holding Sihui Fuji Electronics or generate 25.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hubei Geoway Investment vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Hubei Geoway Investment |
| Sihui Fuji Electronics |
Hubei Geoway and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hubei Geoway and Sihui Fuji
The main advantage of trading using opposite Hubei Geoway and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hubei Geoway position performs unexpectedly, Sihui Fuji 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 Sihui Fuji will offset losses from the drop in Sihui Fuji's long position.| Hubei Geoway vs. Guangzhou KDT Machinery | Hubei Geoway vs. Anhui Huaren Health | Hubei Geoway vs. Everjoy Health Group | Hubei Geoway vs. Allied Machinery Co |
| Sihui Fuji vs. Jiaozuo Wanfang Aluminum | Sihui Fuji vs. Hefei Metalforming Mach | Sihui Fuji vs. Guangdong Jingyi Metal | Sihui Fuji vs. Shenzhen Urban Transport |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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