Correlation Between Fujian Anjoy and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between Fujian Anjoy Foods and Dow Jones Industrial, you can compare the effects of market volatilities on Fujian Anjoy and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Anjoy and Dow Jones.
Diversification Opportunities for Fujian Anjoy and Dow Jones
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fujian and Dow is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Anjoy Foods and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Fujian Anjoy i.e., Fujian Anjoy and Dow Jones go up and down completely randomly.
Pair Corralation between Fujian Anjoy and Dow Jones
Assuming the 90 days trading horizon Fujian Anjoy Foods is expected to under-perform the Dow Jones. In addition to that, Fujian Anjoy is 4.03 times more volatile than Dow Jones Industrial. It trades about 0.0 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.16 per unit of volatility. If you would invest 3,871,129 in Dow Jones Industrial on September 2, 2024 and sell it today you would earn a total of 619,936 from holding Dow Jones Industrial or generate 16.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
Fujian Anjoy Foods vs. Dow Jones Industrial
Performance |
| Timeline |
Fujian Anjoy and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Fujian Anjoy Foods
Pair trading matchups for Fujian Anjoy
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Fujian Anjoy and Dow Jones
The main advantage of trading using opposite Fujian Anjoy and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Anjoy position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Fujian Anjoy vs. Nanjing Putian Telecommunications | Fujian Anjoy vs. Shenzhen Hifuture Electric | Fujian Anjoy vs. Tianjin Realty Development | Fujian Anjoy vs. Shenyang Huitian Thermal |
| Dow Jones vs. Dream Finders Homes | Dow Jones vs. GEN Restaurant Group, | Dow Jones vs. National Beverage Corp | Dow Jones vs. BJs Restaurants |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |