Correlation Between Walker Dunlop and Fujian Rongji
Specify exactly 2 symbols:
By analyzing existing cross correlation between Walker Dunlop and Fujian Rongji Software, you can compare the effects of market volatilities on Walker Dunlop and Fujian Rongji 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 Walker Dunlop with a short position of Fujian Rongji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Fujian Rongji.
Diversification Opportunities for Walker Dunlop and Fujian Rongji
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Walker and Fujian is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Fujian Rongji Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Rongji Software and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Fujian Rongji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Rongji Software has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Fujian Rongji go up and down completely randomly.
Pair Corralation between Walker Dunlop and Fujian Rongji
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Fujian Rongji. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 2.55 times less risky than Fujian Rongji. The stock trades about -0.42 of its potential returns per unit of risk. The Fujian Rongji Software is currently generating about 0.44 of returns per unit of risk over similar time horizon. If you would invest 592.00 in Fujian Rongji Software on November 27, 2024 and sell it today you would earn a total of 191.00 from holding Fujian Rongji Software or generate 32.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 75.0% |
| Values | Daily Returns |
Walker Dunlop vs. Fujian Rongji Software
Performance |
| Timeline |
| Walker Dunlop |
| Fujian Rongji Software |
Walker Dunlop and Fujian Rongji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Fujian Rongji
The main advantage of trading using opposite Walker Dunlop and Fujian Rongji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Fujian Rongji 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 Fujian Rongji will offset losses from the drop in Fujian Rongji's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Fujian Rongji vs. Offshore Oil Engineering | Fujian Rongji vs. Anhui Huaren Health | Fujian Rongji vs. Humanwell Healthcare Group | Fujian Rongji vs. King Strong New Material |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |