Correlation Between Sieyuan Electric and Anhui Jiuhuashan
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sieyuan Electric Co and Anhui Jiuhuashan Tourism, you can compare the effects of market volatilities on Sieyuan Electric and Anhui Jiuhuashan 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 Sieyuan Electric with a short position of Anhui Jiuhuashan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sieyuan Electric and Anhui Jiuhuashan.
Diversification Opportunities for Sieyuan Electric and Anhui Jiuhuashan
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sieyuan and Anhui is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Sieyuan Electric Co and Anhui Jiuhuashan Tourism in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Jiuhuashan Tourism and Sieyuan Electric 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 Sieyuan Electric Co are associated (or correlated) with Anhui Jiuhuashan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Jiuhuashan Tourism has no effect on the direction of Sieyuan Electric i.e., Sieyuan Electric and Anhui Jiuhuashan go up and down completely randomly.
Pair Corralation between Sieyuan Electric and Anhui Jiuhuashan
Assuming the 90 days trading horizon Sieyuan Electric Co is expected to generate 2.23 times more return on investment than Anhui Jiuhuashan. However, Sieyuan Electric is 2.23 times more volatile than Anhui Jiuhuashan Tourism. It trades about 0.3 of its potential returns per unit of risk. Anhui Jiuhuashan Tourism is currently generating about -0.1 per unit of risk. If you would invest 9,300 in Sieyuan Electric Co on September 11, 2025 and sell it today you would earn a total of 6,376 from holding Sieyuan Electric Co or generate 68.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.31% |
| Values | Daily Returns |
Sieyuan Electric Co vs. Anhui Jiuhuashan Tourism
Performance |
| Timeline |
| Sieyuan Electric |
| Anhui Jiuhuashan Tourism |
Sieyuan Electric and Anhui Jiuhuashan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sieyuan Electric and Anhui Jiuhuashan
The main advantage of trading using opposite Sieyuan Electric and Anhui Jiuhuashan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sieyuan Electric position performs unexpectedly, Anhui Jiuhuashan 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 Anhui Jiuhuashan will offset losses from the drop in Anhui Jiuhuashan's long position.| Sieyuan Electric vs. NBTM New Materials | Sieyuan Electric vs. Wondershare Technology Co | Sieyuan Electric vs. Cangzhou Mingzhu Plastic | Sieyuan Electric vs. Nsfocus Information Technology |
| Anhui Jiuhuashan vs. Silkroad Visual Technology | Anhui Jiuhuashan vs. Beingmate Baby Child | Anhui Jiuhuashan vs. Shenzhen RoadRover Technology | Anhui Jiuhuashan vs. Shanghai Broadband Technology |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |