Correlation Between FANDIFI TECHNOLOGY and CITIC Telecom
Can any of the company-specific risk be diversified away by investing in both FANDIFI TECHNOLOGY and CITIC Telecom 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 FANDIFI TECHNOLOGY and CITIC Telecom into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FANDIFI TECHNOLOGY P and CITIC Telecom International, you can compare the effects of market volatilities on FANDIFI TECHNOLOGY and CITIC Telecom 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 FANDIFI TECHNOLOGY with a short position of CITIC Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of FANDIFI TECHNOLOGY and CITIC Telecom.
Diversification Opportunities for FANDIFI TECHNOLOGY and CITIC Telecom
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FANDIFI and CITIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FANDIFI TECHNOLOGY P and CITIC Telecom International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIC Telecom Intern and FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY P are associated (or correlated) with CITIC Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIC Telecom Intern has no effect on the direction of FANDIFI TECHNOLOGY i.e., FANDIFI TECHNOLOGY and CITIC Telecom go up and down completely randomly.
Pair Corralation between FANDIFI TECHNOLOGY and CITIC Telecom
If you would invest 0.05 in FANDIFI TECHNOLOGY P on October 12, 2024 and sell it today you would earn a total of 0.00 from holding FANDIFI TECHNOLOGY P or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.12% |
| Values | Daily Returns |
FANDIFI TECHNOLOGY P vs. CITIC Telecom International
Performance |
| Timeline |
| FANDIFI TECHNOLOGY |
| CITIC Telecom Intern |
FANDIFI TECHNOLOGY and CITIC Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FANDIFI TECHNOLOGY and CITIC Telecom
The main advantage of trading using opposite FANDIFI TECHNOLOGY and CITIC Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FANDIFI TECHNOLOGY position performs unexpectedly, CITIC Telecom 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 CITIC Telecom will offset losses from the drop in CITIC Telecom's long position.| FANDIFI TECHNOLOGY vs. Eidesvik Offshore ASA | FANDIFI TECHNOLOGY vs. TIANDE CHEMICAL | FANDIFI TECHNOLOGY vs. EAGLE MATERIALS | FANDIFI TECHNOLOGY vs. Heidelberg Materials AG |
| CITIC Telecom vs. Liberty Broadband | CITIC Telecom vs. Casio Computer CoLtd | CITIC Telecom vs. X FAB Silicon Foundries | CITIC Telecom vs. FANDIFI TECHNOLOGY P |
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
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| CEOs Directory Screen CEOs from public companies around the world |