Correlation Between Shanghai Fudan and ICL Israel
Can any of the company-specific risk be diversified away by investing in both Shanghai Fudan and ICL Israel 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 Shanghai Fudan and ICL Israel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Shanghai Fudan Microelectronics and ICL Israel Chemicals, you can compare the effects of market volatilities on Shanghai Fudan and ICL Israel 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 Fudan with a short position of ICL Israel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Fudan and ICL Israel.
Diversification Opportunities for Shanghai Fudan and ICL Israel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Shanghai and ICL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Fudan Microelectronic and ICL Israel Chemicals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ICL Israel Chemicals and Shanghai Fudan 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 Fudan Microelectronics are associated (or correlated) with ICL Israel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ICL Israel Chemicals has no effect on the direction of Shanghai Fudan i.e., Shanghai Fudan and ICL Israel go up and down completely randomly.
Pair Corralation between Shanghai Fudan and ICL Israel
If you would invest 4,975 in Shanghai Fudan Microelectronics on September 5, 2025 and sell it today you would earn a total of 0.00 from holding Shanghai Fudan Microelectronics or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Shanghai Fudan Microelectronic vs. ICL Israel Chemicals
Performance |
| Timeline |
| Shanghai Fudan Micro |
| ICL Israel Chemicals |
Shanghai Fudan and ICL Israel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Fudan and ICL Israel
The main advantage of trading using opposite Shanghai Fudan and ICL Israel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Fudan position performs unexpectedly, ICL Israel 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 ICL Israel will offset losses from the drop in ICL Israel's long position.| Shanghai Fudan vs. Mitsui Chemicals ADR | Shanghai Fudan vs. Mitsubishi Materials | Shanghai Fudan vs. Martin Marietta Materials | Shanghai Fudan vs. Energold Drilling Corp |
| ICL Israel vs. US GoldMining Common | ICL Israel vs. Renesas Electronics | ICL Israel vs. Shanghai Fudan Microelectronics | ICL Israel vs. Genesis Electronics Group |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |