Correlation Between Sihui Fuji and China Minmetals
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By analyzing existing cross correlation between Sihui Fuji Electronics and China Minmetals Rare, you can compare the effects of market volatilities on Sihui Fuji and China Minmetals 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 Sihui Fuji with a short position of China Minmetals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sihui Fuji and China Minmetals.
Diversification Opportunities for Sihui Fuji and China Minmetals
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sihui and China is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Sihui Fuji Electronics and China Minmetals Rare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Minmetals Rare and Sihui Fuji 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 Sihui Fuji Electronics are associated (or correlated) with China Minmetals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Minmetals Rare has no effect on the direction of Sihui Fuji i.e., Sihui Fuji and China Minmetals go up and down completely randomly.
Pair Corralation between Sihui Fuji and China Minmetals
Assuming the 90 days trading horizon Sihui Fuji is expected to generate 2.03 times less return on investment than China Minmetals. In addition to that, Sihui Fuji is 1.25 times more volatile than China Minmetals Rare. It trades about 0.02 of its total potential returns per unit of risk. China Minmetals Rare is currently generating about 0.06 per unit of volatility. If you would invest 2,437 in China Minmetals Rare on October 4, 2024 and sell it today you would earn a total of 368.00 from holding China Minmetals Rare or generate 15.1% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Sihui Fuji Electronics vs. China Minmetals Rare
Performance |
Timeline |
Sihui Fuji Electronics |
China Minmetals Rare |
Sihui Fuji and China Minmetals Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sihui Fuji and China Minmetals
The main advantage of trading using opposite Sihui Fuji and China Minmetals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sihui Fuji position performs unexpectedly, China Minmetals 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 China Minmetals will offset losses from the drop in China Minmetals' long position.Sihui Fuji vs. Cloud Live Technology | Sihui Fuji vs. Nanjing Putian Telecommunications | Sihui Fuji vs. Tianjin Realty Development | Sihui Fuji vs. Shenzhen Coship Electronics |
China Minmetals vs. Zijin Mining Group | China Minmetals vs. Wanhua Chemical Group | China Minmetals vs. Baoshan Iron Steel | China Minmetals vs. Shandong Gold Mining |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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