Correlation Between Ningbo Fujia and Lovesac
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By analyzing existing cross correlation between Ningbo Fujia Industrial and The Lovesac, you can compare the effects of market volatilities on Ningbo Fujia and Lovesac 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 Ningbo Fujia with a short position of Lovesac. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ningbo Fujia and Lovesac.
Diversification Opportunities for Ningbo Fujia and Lovesac
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ningbo and Lovesac is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Fujia Industrial and The Lovesac in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lovesac and Ningbo Fujia 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 Ningbo Fujia Industrial are associated (or correlated) with Lovesac. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lovesac has no effect on the direction of Ningbo Fujia i.e., Ningbo Fujia and Lovesac go up and down completely randomly.
Pair Corralation between Ningbo Fujia and Lovesac
Assuming the 90 days trading horizon Ningbo Fujia Industrial is expected to generate 0.85 times more return on investment than Lovesac. However, Ningbo Fujia Industrial is 1.18 times less risky than Lovesac. It trades about -0.09 of its potential returns per unit of risk. The Lovesac is currently generating about -0.12 per unit of risk. If you would invest 1,932 in Ningbo Fujia Industrial on August 29, 2025 and sell it today you would lose (322.00) from holding Ningbo Fujia Industrial or give up 16.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 92.06% |
| Values | Daily Returns |
Ningbo Fujia Industrial vs. The Lovesac
Performance |
| Timeline |
| Ningbo Fujia Industrial |
| Lovesac |
Ningbo Fujia and Lovesac Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ningbo Fujia and Lovesac
The main advantage of trading using opposite Ningbo Fujia and Lovesac positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ningbo Fujia position performs unexpectedly, Lovesac 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 Lovesac will offset losses from the drop in Lovesac's long position.| Ningbo Fujia vs. Ming Yang Smart | Ningbo Fujia vs. 159681 | Ningbo Fujia vs. 159005 | Ningbo Fujia vs. Loctek Ergonomic Technology |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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