Correlation Between Fujian Forecam and Tianjin Pengling
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By analyzing existing cross correlation between Fujian Forecam Optics and Tianjin Pengling Rubber, you can compare the effects of market volatilities on Fujian Forecam and Tianjin Pengling 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 Fujian Forecam with a short position of Tianjin Pengling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Forecam and Tianjin Pengling.
Diversification Opportunities for Fujian Forecam and Tianjin Pengling
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fujian and Tianjin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Forecam Optics and Tianjin Pengling Rubber in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin Pengling Rubber and Fujian Forecam 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 Fujian Forecam Optics are associated (or correlated) with Tianjin Pengling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin Pengling Rubber has no effect on the direction of Fujian Forecam i.e., Fujian Forecam and Tianjin Pengling go up and down completely randomly.
Pair Corralation between Fujian Forecam and Tianjin Pengling
If you would invest 396.00 in Tianjin Pengling Rubber on September 10, 2024 and sell it today you would earn a total of 134.00 from holding Tianjin Pengling Rubber or generate 33.84% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 1.72% |
Values | Daily Returns |
Fujian Forecam Optics vs. Tianjin Pengling Rubber
Performance |
Timeline |
Fujian Forecam Optics |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Tianjin Pengling Rubber |
Fujian Forecam and Tianjin Pengling Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Fujian Forecam and Tianjin Pengling
The main advantage of trading using opposite Fujian Forecam and Tianjin Pengling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Forecam position performs unexpectedly, Tianjin Pengling 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 Tianjin Pengling will offset losses from the drop in Tianjin Pengling's long position.Fujian Forecam vs. Northking Information Technology | Fujian Forecam vs. Wasu Media Holding | Fujian Forecam vs. Jiujiang Shanshui Technology | Fujian Forecam vs. Sunny Loan Top |
Tianjin Pengling vs. Soyea Technology Co | Tianjin Pengling vs. Eastroc Beverage Group | Tianjin Pengling vs. Great Sun Foods Co | Tianjin Pengling vs. Guilin Seamild Foods |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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