Correlation Between Shanghai Yaoji and Fujian Longzhou
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By analyzing existing cross correlation between Shanghai Yaoji Playing and Fujian Longzhou Transportation, you can compare the effects of market volatilities on Shanghai Yaoji 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 Shanghai Yaoji with a short position of Fujian Longzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Yaoji and Fujian Longzhou.
Diversification Opportunities for Shanghai Yaoji and Fujian Longzhou
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Shanghai and Fujian is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Yaoji Playing 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 Shanghai Yaoji 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 Shanghai Yaoji Playing 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 Shanghai Yaoji i.e., Shanghai Yaoji and Fujian Longzhou go up and down completely randomly.
Pair Corralation between Shanghai Yaoji and Fujian Longzhou
Assuming the 90 days trading horizon Shanghai Yaoji Playing is expected to generate 1.28 times more return on investment than Fujian Longzhou. However, Shanghai Yaoji is 1.28 times more volatile than Fujian Longzhou Transportation. It trades about -0.06 of its potential returns per unit of risk. Fujian Longzhou Transportation is currently generating about -0.08 per unit of risk. If you would invest 2,750 in Shanghai Yaoji Playing on July 20, 2025 and sell it today you would lose (173.00) from holding Shanghai Yaoji Playing or give up 6.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Yaoji Playing vs. Fujian Longzhou Transportation
Performance |
| Timeline |
| Shanghai Yaoji Playing |
| Fujian Longzhou Tran |
Shanghai Yaoji and Fujian Longzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Yaoji and Fujian Longzhou
The main advantage of trading using opposite Shanghai Yaoji and Fujian Longzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Yaoji 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.| Shanghai Yaoji vs. Luyin Investment Group | Shanghai Yaoji vs. Spearhead Integrated Marketing | Shanghai Yaoji vs. Huawen Media Investment | Shanghai Yaoji vs. Kunwu Jiuding Investment |
| Fujian Longzhou vs. Emdoor Information Co | Fujian Longzhou vs. Digital China Information | Fujian Longzhou vs. Guangzhou Ruoyuchen Information | Fujian Longzhou vs. Shantui Construction Machinery |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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