Correlation Between Biwin Storage and Sihui Fuji
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By analyzing existing cross correlation between Biwin Storage Technology and Sihui Fuji Electronics, you can compare the effects of market volatilities on Biwin Storage 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 Biwin Storage with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Sihui Fuji.
Diversification Opportunities for Biwin Storage and Sihui Fuji
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Biwin and Sihui is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology 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 Biwin Storage 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 Biwin Storage Technology 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 Biwin Storage i.e., Biwin Storage and Sihui Fuji go up and down completely randomly.
Pair Corralation between Biwin Storage and Sihui Fuji
Assuming the 90 days trading horizon Biwin Storage Technology is expected to under-perform the Sihui Fuji. But the stock apears to be less risky and, when comparing its historical volatility, Biwin Storage Technology is 1.05 times less risky than Sihui Fuji. The stock trades about -0.01 of its potential returns per unit of risk. The Sihui Fuji Electronics is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,791 in Sihui Fuji Electronics on October 12, 2024 and sell it today you would earn a total of 49.00 from holding Sihui Fuji Electronics or generate 1.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Biwin Storage Technology vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Biwin Storage Technology |
| Sihui Fuji Electronics |
Biwin Storage and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Sihui Fuji
The main advantage of trading using opposite Biwin Storage and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage 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.| Biwin Storage vs. Southern PublishingMedia Co | Biwin Storage vs. Bomesc Offshore Engineering | Biwin Storage vs. Sunny Loan Top | Biwin Storage vs. Jiangsu Financial Leasing |
| Sihui Fuji vs. Biwin Storage Technology | Sihui Fuji vs. PetroChina Co Ltd | Sihui Fuji vs. Industrial and Commercial | Sihui Fuji vs. China Construction Bank |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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