Correlation Between Zhuhai Comleader and Sihui Fuji
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By analyzing existing cross correlation between Zhuhai Comleader Information and Sihui Fuji Electronics, you can compare the effects of market volatilities on Zhuhai Comleader 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 Zhuhai Comleader with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhuhai Comleader and Sihui Fuji.
Diversification Opportunities for Zhuhai Comleader and Sihui Fuji
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Zhuhai and Sihui is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Zhuhai Comleader Information 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 Zhuhai Comleader 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 Zhuhai Comleader Information 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 Zhuhai Comleader i.e., Zhuhai Comleader and Sihui Fuji go up and down completely randomly.
Pair Corralation between Zhuhai Comleader and Sihui Fuji
Assuming the 90 days trading horizon Zhuhai Comleader is expected to generate 1.18 times less return on investment than Sihui Fuji. In addition to that, Zhuhai Comleader is 1.88 times more volatile than Sihui Fuji Electronics. It trades about 0.12 of its total potential returns per unit of risk. Sihui Fuji Electronics is currently generating about 0.27 per unit of volatility. If you would invest 2,556 in Sihui Fuji Electronics on September 26, 2024 and sell it today you would earn a total of 329.00 from holding Sihui Fuji Electronics or generate 12.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zhuhai Comleader Information vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Zhuhai Comleader Inf |
| Sihui Fuji Electronics |
Zhuhai Comleader and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhuhai Comleader and Sihui Fuji
The main advantage of trading using opposite Zhuhai Comleader and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhuhai Comleader 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.| Zhuhai Comleader vs. Industrial and Commercial | Zhuhai Comleader vs. Agricultural Bank of | Zhuhai Comleader vs. China Construction Bank | Zhuhai Comleader vs. Bank of China |
| 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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