Correlation Between JiShi Media and Sihui Fuji
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By analyzing existing cross correlation between JiShi Media Co and Sihui Fuji Electronics, you can compare the effects of market volatilities on JiShi Media 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 JiShi Media with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and Sihui Fuji.
Diversification Opportunities for JiShi Media and Sihui Fuji
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between JiShi and Sihui is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media Co 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 JiShi Media 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 JiShi Media Co 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 JiShi Media i.e., JiShi Media and Sihui Fuji go up and down completely randomly.
Pair Corralation between JiShi Media and Sihui Fuji
Assuming the 90 days trading horizon JiShi Media is expected to generate 2.37 times less return on investment than Sihui Fuji. In addition to that, JiShi Media is 1.04 times more volatile than Sihui Fuji Electronics. It trades about 0.01 of its total potential returns per unit of risk. Sihui Fuji Electronics is currently generating about 0.03 per unit of volatility. If you would invest 2,292 in Sihui Fuji Electronics on September 26, 2024 and sell it today you would earn a total of 593.00 from holding Sihui Fuji Electronics or generate 25.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JiShi Media Co vs. Sihui Fuji Electronics
Performance |
| Timeline |
| JiShi Media |
| Sihui Fuji Electronics |
JiShi Media and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JiShi Media and Sihui Fuji
The main advantage of trading using opposite JiShi Media and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media 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.| JiShi Media vs. Industrial and Commercial | JiShi Media vs. Kweichow Moutai Co | JiShi Media vs. Agricultural Bank of | JiShi Media vs. China Mobile Limited |
| Sihui Fuji vs. Jointo Energy Investment | Sihui Fuji vs. Changchun UP Optotech | Sihui Fuji vs. Henan Shuanghui Investment | Sihui Fuji vs. Tieling Newcity Investment |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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