Correlation Between AOI Electronics and Fuji Media
Can any of the company-specific risk be diversified away by investing in both AOI Electronics and Fuji Media at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining AOI Electronics and Fuji Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AOI Electronics Co and Fuji Media Holdings, you can compare the effects of market volatilities on AOI Electronics and Fuji Media 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 AOI Electronics with a short position of Fuji Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of AOI Electronics and Fuji Media.
Diversification Opportunities for AOI Electronics and Fuji Media
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AOI and Fuji is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AOI Electronics Co and Fuji Media Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fuji Media Holdings and AOI Electronics 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 AOI Electronics Co are associated (or correlated) with Fuji Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fuji Media Holdings has no effect on the direction of AOI Electronics i.e., AOI Electronics and Fuji Media go up and down completely randomly.
Pair Corralation between AOI Electronics and Fuji Media
If you would invest 1,030 in Fuji Media Holdings on November 7, 2024 and sell it today you would earn a total of 310.00 from holding Fuji Media Holdings or generate 30.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
AOI Electronics Co vs. Fuji Media Holdings
Performance |
| Timeline |
| AOI Electronics |
| Fuji Media Holdings |
AOI Electronics and Fuji Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AOI Electronics and Fuji Media
The main advantage of trading using opposite AOI Electronics and Fuji Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AOI Electronics position performs unexpectedly, Fuji Media 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 Fuji Media will offset losses from the drop in Fuji Media's long position.| AOI Electronics vs. G8 EDUCATION | AOI Electronics vs. Perseus Mining Limited | AOI Electronics vs. CORNISH METALS INC | AOI Electronics vs. DEVRY EDUCATION GRP |
| Fuji Media vs. VELA TECHNOLPLC LS 0001 | Fuji Media vs. NXP Semiconductors NV | Fuji Media vs. Playtech plc | Fuji Media vs. Genscript Biotech |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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