Correlation Between Fangdd Network and Gaxosai
Can any of the company-specific risk be diversified away by investing in both Fangdd Network and Gaxosai 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 Fangdd Network and Gaxosai into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fangdd Network Group and Gaxosai, you can compare the effects of market volatilities on Fangdd Network and Gaxosai 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 Fangdd Network with a short position of Gaxosai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fangdd Network and Gaxosai.
Diversification Opportunities for Fangdd Network and Gaxosai
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Fangdd and Gaxosai is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Fangdd Network Group and Gaxosai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gaxosai and Fangdd Network 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 Fangdd Network Group are associated (or correlated) with Gaxosai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gaxosai has no effect on the direction of Fangdd Network i.e., Fangdd Network and Gaxosai go up and down completely randomly.
Pair Corralation between Fangdd Network and Gaxosai
Considering the 90-day investment horizon Fangdd Network Group is expected to under-perform the Gaxosai. In addition to that, Fangdd Network is 1.44 times more volatile than Gaxosai. It trades about -0.14 of its total potential returns per unit of risk. Gaxosai is currently generating about -0.02 per unit of volatility. If you would invest 146.00 in Gaxosai on September 8, 2025 and sell it today you would lose (23.00) from holding Gaxosai or give up 15.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fangdd Network Group vs. Gaxosai
Performance |
| Timeline |
| Fangdd Network Group |
| Gaxosai |
Fangdd Network and Gaxosai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fangdd Network and Gaxosai
The main advantage of trading using opposite Fangdd Network and Gaxosai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fangdd Network position performs unexpectedly, Gaxosai 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 Gaxosai will offset losses from the drop in Gaxosai's long position.| Fangdd Network vs. InnSuites Hospitality Trust | Fangdd Network vs. Avalon GloboCare Corp | Fangdd Network vs. Gyrodyne Company of | Fangdd Network vs. La Rosa Holdings |
| Gaxosai vs. Brag House Holdings, | Gaxosai vs. Blue Hat Interactive | Gaxosai vs. Motorsport Gaming Us | Gaxosai vs. Silynxcom |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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