Correlation Between Beijing Seeyon and FSPG Hi
Specify exactly 2 symbols:
By analyzing existing cross correlation between Beijing Seeyon Internet and FSPG Hi Tech Co, you can compare the effects of market volatilities on Beijing Seeyon and FSPG Hi 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 Beijing Seeyon with a short position of FSPG Hi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Seeyon and FSPG Hi.
Diversification Opportunities for Beijing Seeyon and FSPG Hi
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and FSPG is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Seeyon Internet and FSPG Hi Tech Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FSPG Hi Tech and Beijing Seeyon 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 Beijing Seeyon Internet are associated (or correlated) with FSPG Hi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FSPG Hi Tech has no effect on the direction of Beijing Seeyon i.e., Beijing Seeyon and FSPG Hi go up and down completely randomly.
Pair Corralation between Beijing Seeyon and FSPG Hi
Assuming the 90 days trading horizon Beijing Seeyon is expected to generate 15.53 times less return on investment than FSPG Hi. But when comparing it to its historical volatility, Beijing Seeyon Internet is 1.06 times less risky than FSPG Hi. It trades about 0.0 of its potential returns per unit of risk. FSPG Hi Tech Co is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 524.00 in FSPG Hi Tech Co on October 26, 2024 and sell it today you would earn a total of 50.00 from holding FSPG Hi Tech Co or generate 9.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.41% |
| Values | Daily Returns |
Beijing Seeyon Internet vs. FSPG Hi Tech Co
Performance |
| Timeline |
| Beijing Seeyon Internet |
| FSPG Hi Tech |
Beijing Seeyon and FSPG Hi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Seeyon and FSPG Hi
The main advantage of trading using opposite Beijing Seeyon and FSPG Hi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Seeyon position performs unexpectedly, FSPG Hi 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 FSPG Hi will offset losses from the drop in FSPG Hi's long position.| Beijing Seeyon vs. Fiberhome Telecommunication Technologies | Beijing Seeyon vs. Sinomach Automobile Co | Beijing Seeyon vs. Dazhong Transportation Group | Beijing Seeyon vs. Nanjing Putian Telecommunications |
| FSPG Hi vs. Ye Chiu Metal | FSPG Hi vs. Zhongrun Resources Investment | FSPG Hi vs. Jiaozuo Wanfang Aluminum | FSPG Hi vs. Zoje Resources 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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |