Correlation Between Fujian Oriental and Easyhome New
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By analyzing existing cross correlation between Fujian Oriental Silver and Easyhome New Retail, you can compare the effects of market volatilities on Fujian Oriental and Easyhome New 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 Oriental with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Oriental and Easyhome New.
Diversification Opportunities for Fujian Oriental and Easyhome New
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fujian and Easyhome is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Oriental Silver and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Fujian Oriental 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 Oriental Silver are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Fujian Oriental i.e., Fujian Oriental and Easyhome New go up and down completely randomly.
Pair Corralation between Fujian Oriental and Easyhome New
Assuming the 90 days trading horizon Fujian Oriental Silver is expected to under-perform the Easyhome New. In addition to that, Fujian Oriental is 1.38 times more volatile than Easyhome New Retail. It trades about -0.03 of its total potential returns per unit of risk. Easyhome New Retail is currently generating about 0.01 per unit of volatility. If you would invest 381.00 in Easyhome New Retail on October 15, 2024 and sell it today you would lose (18.00) from holding Easyhome New Retail or give up 4.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Oriental Silver vs. Easyhome New Retail
Performance |
| Timeline |
| Fujian Oriental Silver |
| Easyhome New Retail |
Fujian Oriental and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Oriental and Easyhome New
The main advantage of trading using opposite Fujian Oriental and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Oriental position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Fujian Oriental vs. Gan Yuan Foods | Fujian Oriental vs. Tibet Huayu Mining | Fujian Oriental vs. Bosera CMSK Industrial | Fujian Oriental vs. Chengtun Mining Group |
| Easyhome New vs. Olympic Circuit Technology | Easyhome New vs. Digiwin Software Co | Easyhome New vs. Bangyan Technology Co | Easyhome New vs. Nanjing Vishee Medical |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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