Correlation Between Duzhe Publishing and Sichuan Fulin
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By analyzing existing cross correlation between Duzhe Publishing Media and Sichuan Fulin Transportation, you can compare the effects of market volatilities on Duzhe Publishing and Sichuan Fulin 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 Duzhe Publishing with a short position of Sichuan Fulin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duzhe Publishing and Sichuan Fulin.
Diversification Opportunities for Duzhe Publishing and Sichuan Fulin
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Duzhe and Sichuan is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Duzhe Publishing Media and Sichuan Fulin Transportation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Fulin Transp and Duzhe 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 Duzhe Publishing Media are associated (or correlated) with Sichuan Fulin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Fulin Transp has no effect on the direction of Duzhe Publishing i.e., Duzhe Publishing and Sichuan Fulin go up and down completely randomly.
Pair Corralation between Duzhe Publishing and Sichuan Fulin
Assuming the 90 days trading horizon Duzhe Publishing is expected to generate 1.23 times less return on investment than Sichuan Fulin. In addition to that, Duzhe Publishing is 1.19 times more volatile than Sichuan Fulin Transportation. It trades about 0.01 of its total potential returns per unit of risk. Sichuan Fulin Transportation is currently generating about 0.02 per unit of volatility. If you would invest 655.00 in Sichuan Fulin Transportation on October 14, 2024 and sell it today you would earn a total of 34.00 from holding Sichuan Fulin Transportation or generate 5.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duzhe Publishing Media vs. Sichuan Fulin Transportation
Performance |
| Timeline |
| Duzhe Publishing Media |
| Sichuan Fulin Transp |
Duzhe Publishing and Sichuan Fulin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duzhe Publishing and Sichuan Fulin
The main advantage of trading using opposite Duzhe Publishing and Sichuan Fulin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duzhe Publishing position performs unexpectedly, Sichuan Fulin 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 Sichuan Fulin will offset losses from the drop in Sichuan Fulin's long position.| Duzhe Publishing vs. Anhui Shiny Electronic | Duzhe Publishing vs. Aurora Optoelectronics Co | Duzhe Publishing vs. TongFu Microelectronics Co | Duzhe Publishing vs. Leyard Optoelectronic |
| Sichuan Fulin vs. Zhongshan Broad Ocean Motor | Sichuan Fulin vs. Xinhua Winshare Publishing | Sichuan Fulin vs. Northern United Publishing | Sichuan Fulin vs. Duzhe Publishing Media |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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