Correlation Between Fujian Anjoy and Bosera CMSK
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By analyzing existing cross correlation between Fujian Anjoy Foods and Bosera CMSK Industrial, you can compare the effects of market volatilities on Fujian Anjoy and Bosera CMSK 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 Anjoy with a short position of Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Anjoy and Bosera CMSK.
Diversification Opportunities for Fujian Anjoy and Bosera CMSK
-0.84 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fujian and Bosera is -0.84. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Anjoy Foods and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial and Fujian Anjoy 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 Anjoy Foods are associated (or correlated) with Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Fujian Anjoy i.e., Fujian Anjoy and Bosera CMSK go up and down completely randomly.
Pair Corralation between Fujian Anjoy and Bosera CMSK
Assuming the 90 days trading horizon Fujian Anjoy Foods is expected to under-perform the Bosera CMSK. In addition to that, Fujian Anjoy is 2.16 times more volatile than Bosera CMSK Industrial. It trades about -0.18 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.38 per unit of volatility. If you would invest 194.00 in Bosera CMSK Industrial on October 30, 2024 and sell it today you would earn a total of 30.00 from holding Bosera CMSK Industrial or generate 15.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Anjoy Foods vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Fujian Anjoy Foods |
| Bosera CMSK Industrial |
Fujian Anjoy and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Anjoy and Bosera CMSK
The main advantage of trading using opposite Fujian Anjoy and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Anjoy position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Fujian Anjoy vs. Success Electronics | Fujian Anjoy vs. Fuzhou Rockchip Electronics | Fujian Anjoy vs. Tibet Huayu Mining | Fujian Anjoy vs. Pengxin International Mining |
| Bosera CMSK vs. Gan Yuan Foods | Bosera CMSK vs. Namchow Food Group | Bosera CMSK vs. Guangdong Qunxing Toys | Bosera CMSK vs. Xiwang Foodstuffs 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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