Correlation Between Fidelis Insurance and Fast Retailing
Can any of the company-specific risk be diversified away by investing in both Fidelis Insurance and Fast Retailing 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 Fidelis Insurance and Fast Retailing into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelis Insurance Holdings and Fast Retailing Co, you can compare the effects of market volatilities on Fidelis Insurance and Fast Retailing 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 Fidelis Insurance with a short position of Fast Retailing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelis Insurance and Fast Retailing.
Diversification Opportunities for Fidelis Insurance and Fast Retailing
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fidelis and Fast is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Fidelis Insurance Holdings and Fast Retailing Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fast Retailing and Fidelis Insurance 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 Fidelis Insurance Holdings are associated (or correlated) with Fast Retailing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fast Retailing has no effect on the direction of Fidelis Insurance i.e., Fidelis Insurance and Fast Retailing go up and down completely randomly.
Pair Corralation between Fidelis Insurance and Fast Retailing
Given the investment horizon of 90 days Fidelis Insurance is expected to generate 1.61 times less return on investment than Fast Retailing. But when comparing it to its historical volatility, Fidelis Insurance Holdings is 2.11 times less risky than Fast Retailing. It trades about 0.1 of its potential returns per unit of risk. Fast Retailing Co is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 32,105 in Fast Retailing Co on September 4, 2025 and sell it today you would earn a total of 3,895 from holding Fast Retailing Co or generate 12.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelis Insurance Holdings vs. Fast Retailing Co
Performance |
| Timeline |
| Fidelis Insurance |
| Fast Retailing |
Fidelis Insurance and Fast Retailing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelis Insurance and Fast Retailing
The main advantage of trading using opposite Fidelis Insurance and Fast Retailing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelis Insurance position performs unexpectedly, Fast Retailing 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 Fast Retailing will offset losses from the drop in Fast Retailing's long position.| Fidelis Insurance vs. Richardson Electronics | Fidelis Insurance vs. Yatra Online | Fidelis Insurance vs. Jaco Electronics | Fidelis Insurance vs. Salesforce |
| Fast Retailing vs. Hamilton Insurance Group, | Fast Retailing vs. Renesas Electronics | Fast Retailing vs. Shanghai Fudan Microelectronics | Fast Retailing vs. Fidelis Insurance Holdings |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |