Correlation Between China Publishing and Foryou Corp
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Publishing Media and Foryou Corp, you can compare the effects of market volatilities on China Publishing and Foryou Corp 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 China Publishing with a short position of Foryou Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Publishing and Foryou Corp.
Diversification Opportunities for China Publishing and Foryou Corp
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between China and Foryou is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding China Publishing Media and Foryou Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Foryou Corp and China Publishing 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 China Publishing Media are associated (or correlated) with Foryou Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Foryou Corp has no effect on the direction of China Publishing i.e., China Publishing and Foryou Corp go up and down completely randomly.
Pair Corralation between China Publishing and Foryou Corp
Assuming the 90 days trading horizon China Publishing Media is expected to generate 1.18 times more return on investment than Foryou Corp. However, China Publishing is 1.18 times more volatile than Foryou Corp. It trades about 0.05 of its potential returns per unit of risk. Foryou Corp is currently generating about 0.0 per unit of risk. If you would invest 501.00 in China Publishing Media on September 2, 2024 and sell it today you would earn a total of 325.00 from holding China Publishing Media or generate 64.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Publishing Media vs. Foryou Corp
Performance |
| Timeline |
| China Publishing Media |
| Foryou Corp |
China Publishing and Foryou Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Publishing and Foryou Corp
The main advantage of trading using opposite China Publishing and Foryou Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Publishing position performs unexpectedly, Foryou Corp 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 Foryou Corp will offset losses from the drop in Foryou Corp's long position.| China Publishing vs. Cambricon Technologies Corp | China Publishing vs. Loongson Technology Corp | China Publishing vs. Shenzhen Fortune Trend | China Publishing vs. Chongqing Road Bridge |
| Foryou Corp vs. Unigroup Guoxin Microelectronics | Foryou Corp vs. Weihai Honglin Electronic | Foryou Corp vs. Double Medical Technology | Foryou Corp vs. Shenzhen Clou Electronics |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories |