Correlation Between Unigroup Guoxin and Arrow Electronics
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By analyzing existing cross correlation between Unigroup Guoxin Microelectronics and Arrow Electronics, you can compare the effects of market volatilities on Unigroup Guoxin and Arrow Electronics 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 Unigroup Guoxin with a short position of Arrow Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unigroup Guoxin and Arrow Electronics.
Diversification Opportunities for Unigroup Guoxin and Arrow Electronics
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Unigroup and Arrow is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Unigroup Guoxin Microelectroni and Arrow Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arrow Electronics and Unigroup Guoxin 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 Unigroup Guoxin Microelectronics are associated (or correlated) with Arrow Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arrow Electronics has no effect on the direction of Unigroup Guoxin i.e., Unigroup Guoxin and Arrow Electronics go up and down completely randomly.
Pair Corralation between Unigroup Guoxin and Arrow Electronics
Assuming the 90 days trading horizon Unigroup Guoxin Microelectronics is expected to generate 1.52 times more return on investment than Arrow Electronics. However, Unigroup Guoxin is 1.52 times more volatile than Arrow Electronics. It trades about 0.0 of its potential returns per unit of risk. Arrow Electronics is currently generating about -0.09 per unit of risk. If you would invest 7,742 in Unigroup Guoxin Microelectronics on August 15, 2025 and sell it today you would lose (140.00) from holding Unigroup Guoxin Microelectronics or give up 1.81% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.63% |
| Values | Daily Returns |
Unigroup Guoxin Microelectroni vs. Arrow Electronics
Performance |
| Timeline |
| Unigroup Guoxin Micr |
| Arrow Electronics |
Unigroup Guoxin and Arrow Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unigroup Guoxin and Arrow Electronics
The main advantage of trading using opposite Unigroup Guoxin and Arrow Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unigroup Guoxin position performs unexpectedly, Arrow Electronics 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 Arrow Electronics will offset losses from the drop in Arrow Electronics' long position.| Unigroup Guoxin vs. Winner Medical Co | Unigroup Guoxin vs. Zhende Medical Co | Unigroup Guoxin vs. Beijing Baolande Software | Unigroup Guoxin vs. Fujian Boss Software |
| Arrow Electronics vs. Avnet Inc | Arrow Electronics vs. Vontier Corp | Arrow Electronics vs. Ingram Micro Holding | Arrow Electronics vs. Genpact Limited |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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