Correlation Between Armada Hflr and Sihui Fuji
Specify exactly 2 symbols:
By analyzing existing cross correlation between Armada Hflr Pr and Sihui Fuji Electronics, you can compare the effects of market volatilities on Armada Hflr 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 Armada Hflr with a short position of Sihui Fuji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Armada Hflr and Sihui Fuji.
Diversification Opportunities for Armada Hflr and Sihui Fuji
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Armada and Sihui is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Armada Hflr Pr 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 Armada Hflr 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 Armada Hflr Pr 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 Armada Hflr i.e., Armada Hflr and Sihui Fuji go up and down completely randomly.
Pair Corralation between Armada Hflr and Sihui Fuji
Considering the 90-day investment horizon Armada Hflr Pr is expected to under-perform the Sihui Fuji. But the stock apears to be less risky and, when comparing its historical volatility, Armada Hflr Pr is 2.59 times less risky than Sihui Fuji. The stock trades about -0.34 of its potential returns per unit of risk. The Sihui Fuji Electronics is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 2,742 in Sihui Fuji Electronics on October 14, 2024 and sell it today you would lose (2.00) from holding Sihui Fuji Electronics or give up 0.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Armada Hflr Pr vs. Sihui Fuji Electronics
Performance |
| Timeline |
| Armada Hflr Pr |
| Sihui Fuji Electronics |
Armada Hflr and Sihui Fuji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Armada Hflr and Sihui Fuji
The main advantage of trading using opposite Armada Hflr and Sihui Fuji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Armada Hflr 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.| Armada Hflr vs. Modiv Inc | Armada Hflr vs. Precinct Properties New | Armada Hflr vs. Global Net Lease | Armada Hflr vs. NexPoint Diversified Real |
| Sihui Fuji vs. Huizhou Speed Wireless | Sihui Fuji vs. Haima Automobile Group | Sihui Fuji vs. Iat Automobile Technology | Sihui Fuji vs. Guangdong Jingyi Metal |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |