Correlation Between Luyin Investment and Fuzhou Rockchip
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By analyzing existing cross correlation between Luyin Investment Group and Fuzhou Rockchip Electronics, you can compare the effects of market volatilities on Luyin Investment and Fuzhou Rockchip 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 Luyin Investment with a short position of Fuzhou Rockchip. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luyin Investment and Fuzhou Rockchip.
Diversification Opportunities for Luyin Investment and Fuzhou Rockchip
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Luyin and Fuzhou is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Luyin Investment Group and Fuzhou Rockchip Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fuzhou Rockchip Elec and Luyin Investment 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 Luyin Investment Group are associated (or correlated) with Fuzhou Rockchip. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fuzhou Rockchip Elec has no effect on the direction of Luyin Investment i.e., Luyin Investment and Fuzhou Rockchip go up and down completely randomly.
Pair Corralation between Luyin Investment and Fuzhou Rockchip
Assuming the 90 days trading horizon Luyin Investment Group is expected to under-perform the Fuzhou Rockchip. But the stock apears to be less risky and, when comparing its historical volatility, Luyin Investment Group is 2.16 times less risky than Fuzhou Rockchip. The stock trades about -0.02 of its potential returns per unit of risk. The Fuzhou Rockchip Electronics is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest 11,595 in Fuzhou Rockchip Electronics on October 30, 2024 and sell it today you would earn a total of 4,855 from holding Fuzhou Rockchip Electronics or generate 41.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Luyin Investment Group vs. Fuzhou Rockchip Electronics
Performance |
| Timeline |
| Luyin Investment |
| Fuzhou Rockchip Elec |
Luyin Investment and Fuzhou Rockchip Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luyin Investment and Fuzhou Rockchip
The main advantage of trading using opposite Luyin Investment and Fuzhou Rockchip positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luyin Investment position performs unexpectedly, Fuzhou Rockchip 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 Fuzhou Rockchip will offset losses from the drop in Fuzhou Rockchip's long position.| Luyin Investment vs. Zijin Mining Group | Luyin Investment vs. Wanhua Chemical Group | Luyin Investment vs. Baoshan Iron Steel | Luyin Investment vs. Shandong Gold Mining |
| Fuzhou Rockchip vs. Guocheng Mining Co | Fuzhou Rockchip vs. Guangdong Jingyi Metal | Fuzhou Rockchip vs. Uroica Mining Safety | Fuzhou Rockchip vs. Hainan Mining 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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