Correlation Between CTCI Corp and Fubon 7
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By analyzing existing cross correlation between CTCI Corp and Fubon 7 15 Years, you can compare the effects of market volatilities on CTCI Corp and Fubon 7 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 CTCI Corp with a short position of Fubon 7. Check out your portfolio center. Please also check ongoing floating volatility patterns of CTCI Corp and Fubon 7.
Diversification Opportunities for CTCI Corp and Fubon 7
Poor diversification
The 3 months correlation between CTCI and Fubon is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding CTCI Corp and Fubon 7 15 Years in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fubon 7 15 and CTCI Corp 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 CTCI Corp are associated (or correlated) with Fubon 7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fubon 7 15 has no effect on the direction of CTCI Corp i.e., CTCI Corp and Fubon 7 go up and down completely randomly.
Pair Corralation between CTCI Corp and Fubon 7
Assuming the 90 days trading horizon CTCI Corp is expected to under-perform the Fubon 7. In addition to that, CTCI Corp is 1.65 times more volatile than Fubon 7 15 Years. It trades about -0.19 of its total potential returns per unit of risk. Fubon 7 15 Years is currently generating about 0.01 per unit of volatility. If you would invest 3,678 in Fubon 7 15 Years on September 12, 2024 and sell it today you would earn a total of 3.00 from holding Fubon 7 15 Years or generate 0.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CTCI Corp vs. Fubon 7 15 Years
Performance |
| Timeline |
| CTCI Corp |
| Fubon 7 15 |
CTCI Corp and Fubon 7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CTCI Corp and Fubon 7
The main advantage of trading using opposite CTCI Corp and Fubon 7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CTCI Corp position performs unexpectedly, Fubon 7 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 Fubon 7 will offset losses from the drop in Fubon 7's long position.| CTCI Corp vs. Taiwan Secom Co | CTCI Corp vs. Pou Chen Corp | CTCI Corp vs. Formosa Petrochemical Corp | CTCI Corp vs. Cheng Shin Rubber |
| Fubon 7 vs. Fubon Hang Seng | Fubon 7 vs. Fubon SP Preferred | Fubon 7 vs. Fubon NASDAQ 100 1X | Fubon 7 vs. Fubon TWSE Corporate |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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