Correlation Between Fuyao Glass and H World
Can any of the company-specific risk be diversified away by investing in both Fuyao Glass and H World at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fuyao Glass and H World into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fuyao Glass Industry and H World Group, you can compare the effects of market volatilities on Fuyao Glass and H World 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 Fuyao Glass with a short position of H World. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fuyao Glass and H World.
Diversification Opportunities for Fuyao Glass and H World
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Fuyao and CL4A is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Fuyao Glass Industry and H World Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on H World Group and Fuyao Glass 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 Fuyao Glass Industry are associated (or correlated) with H World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of H World Group has no effect on the direction of Fuyao Glass i.e., Fuyao Glass and H World go up and down completely randomly.
Pair Corralation between Fuyao Glass and H World
Assuming the 90 days horizon Fuyao Glass Industry is expected to generate 1.48 times more return on investment than H World. However, Fuyao Glass is 1.48 times more volatile than H World Group. It trades about 0.11 of its potential returns per unit of risk. H World Group is currently generating about 0.15 per unit of risk. If you would invest 592.00 in Fuyao Glass Industry on July 26, 2025 and sell it today you would earn a total of 138.00 from holding Fuyao Glass Industry or generate 23.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fuyao Glass Industry vs. H World Group
Performance |
| Timeline |
| Fuyao Glass Industry |
| H World Group |
Fuyao Glass and H World Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fuyao Glass and H World
The main advantage of trading using opposite Fuyao Glass and H World positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fuyao Glass position performs unexpectedly, H World 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 H World will offset losses from the drop in H World's long position.| Fuyao Glass vs. United Insurance Holdings | Fuyao Glass vs. GEAR4MUSIC LS 10 | Fuyao Glass vs. BIOPHARMA CREDIT DL | Fuyao Glass vs. SUN LIFE FINANCIAL |
| H World vs. Singapore Telecommunications Limited | H World vs. ecotel communication ag | H World vs. TELECOM ITALIA | H World vs. COMBA TELECOM SYST |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |