Correlation Between FANDIFI TECHNOLOGY and Siemens Healthineers

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both FANDIFI TECHNOLOGY and Siemens Healthineers 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 Siemens Healthineers 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 Siemens Healthineers AG, you can compare the effects of market volatilities on FANDIFI TECHNOLOGY and Siemens Healthineers 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 Siemens Healthineers. Check out your portfolio center. Please also check ongoing floating volatility patterns of FANDIFI TECHNOLOGY and Siemens Healthineers.

Diversification Opportunities for FANDIFI TECHNOLOGY and Siemens Healthineers

FANDIFISiemensDiversified AwayFANDIFISiemensDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between FANDIFI and Siemens is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FANDIFI TECHNOLOGY P and Siemens Healthineers AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siemens Healthineers 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 Siemens Healthineers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siemens Healthineers has no effect on the direction of FANDIFI TECHNOLOGY i.e., FANDIFI TECHNOLOGY and Siemens Healthineers go up and down completely randomly.

Pair Corralation between FANDIFI TECHNOLOGY and Siemens Healthineers

If you would invest  5,200  in Siemens Healthineers AG on November 20, 2024 and sell it today you would earn a total of  570.00  from holding Siemens Healthineers AG or generate 10.96% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

FANDIFI TECHNOLOGY P  vs.  Siemens Healthineers AG

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -15-10-50
JavaScript chart by amCharts 3.21.15TQ4 SHL
       Timeline  
FANDIFI TECHNOLOGY 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days FANDIFI TECHNOLOGY P has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, FANDIFI TECHNOLOGY is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.00050.0005050.000510.000515
Siemens Healthineers 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Siemens Healthineers AG are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, Siemens Healthineers reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb49505152535455565758

FANDIFI TECHNOLOGY and Siemens Healthineers Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.050.100.150.20
JavaScript chart by amCharts 3.21.15TQ4 SHL
       Returns  

Pair Trading with FANDIFI TECHNOLOGY and Siemens Healthineers

The main advantage of trading using opposite FANDIFI TECHNOLOGY and Siemens Healthineers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FANDIFI TECHNOLOGY position performs unexpectedly, Siemens Healthineers 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 Siemens Healthineers will offset losses from the drop in Siemens Healthineers' long position.
The idea behind FANDIFI TECHNOLOGY P and Siemens Healthineers AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.

Other Complementary Tools

ETF Categories
List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments
Sign In To Macroaxis
Sign in to explore Macroaxis' wealth optimization platform and fintech modules
Bollinger Bands
Use Bollinger Bands indicator to analyze target price for a given investing horizon
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments