Correlation Between Tieling Newcity and Fujian Longzhou
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By analyzing existing cross correlation between Tieling Newcity Investment and Fujian Longzhou Transportation, you can compare the effects of market volatilities on Tieling Newcity and Fujian Longzhou 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 Tieling Newcity with a short position of Fujian Longzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tieling Newcity and Fujian Longzhou.
Diversification Opportunities for Tieling Newcity and Fujian Longzhou
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Tieling and Fujian is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Tieling Newcity Investment and Fujian Longzhou Transportation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fujian Longzhou Tran and Tieling Newcity 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 Tieling Newcity Investment are associated (or correlated) with Fujian Longzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fujian Longzhou Tran has no effect on the direction of Tieling Newcity i.e., Tieling Newcity and Fujian Longzhou go up and down completely randomly.
Pair Corralation between Tieling Newcity and Fujian Longzhou
Assuming the 90 days trading horizon Tieling Newcity Investment is expected to under-perform the Fujian Longzhou. But the stock apears to be less risky and, when comparing its historical volatility, Tieling Newcity Investment is 1.66 times less risky than Fujian Longzhou. The stock trades about -0.03 of its potential returns per unit of risk. The Fujian Longzhou Transportation is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 461.00 in Fujian Longzhou Transportation on September 10, 2025 and sell it today you would earn a total of 406.00 from holding Fujian Longzhou Transportation or generate 88.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tieling Newcity Investment vs. Fujian Longzhou Transportation
Performance |
| Timeline |
| Tieling Newcity Inve |
| Fujian Longzhou Tran |
Tieling Newcity and Fujian Longzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tieling Newcity and Fujian Longzhou
The main advantage of trading using opposite Tieling Newcity and Fujian Longzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tieling Newcity position performs unexpectedly, Fujian Longzhou 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 Longzhou will offset losses from the drop in Fujian Longzhou's long position.| Tieling Newcity vs. Ming Yang Smart | Tieling Newcity vs. 159681 | Tieling Newcity vs. 159005 | Tieling Newcity vs. Loctek Ergonomic Technology |
| Fujian Longzhou vs. BYD Co Ltd | Fujian Longzhou vs. China Mobile Limited | Fujian Longzhou vs. Agricultural Bank of | Fujian Longzhou vs. Industrial and Commercial |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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