Correlation Between SPC Nickel and Shanghai Fudan
Can any of the company-specific risk be diversified away by investing in both SPC Nickel and Shanghai Fudan 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 SPC Nickel and Shanghai Fudan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SPC Nickel Corp and Shanghai Fudan Microelectronics, you can compare the effects of market volatilities on SPC Nickel and Shanghai Fudan 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 SPC Nickel with a short position of Shanghai Fudan. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPC Nickel and Shanghai Fudan.
Diversification Opportunities for SPC Nickel and Shanghai Fudan
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SPC and Shanghai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SPC Nickel Corp and Shanghai Fudan Microelectronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Fudan Micro and SPC Nickel 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 SPC Nickel Corp are associated (or correlated) with Shanghai Fudan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Fudan Micro has no effect on the direction of SPC Nickel i.e., SPC Nickel and Shanghai Fudan go up and down completely randomly.
Pair Corralation between SPC Nickel and Shanghai Fudan
If you would invest 2.00 in SPC Nickel Corp on August 30, 2025 and sell it today you would earn a total of 2.00 from holding SPC Nickel Corp or generate 100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
SPC Nickel Corp vs. Shanghai Fudan Microelectronic
Performance |
| Timeline |
| SPC Nickel Corp |
| Shanghai Fudan Micro |
SPC Nickel and Shanghai Fudan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SPC Nickel and Shanghai Fudan
The main advantage of trading using opposite SPC Nickel and Shanghai Fudan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPC Nickel position performs unexpectedly, Shanghai Fudan 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 Shanghai Fudan will offset losses from the drop in Shanghai Fudan's long position.| SPC Nickel vs. Technology Telecommunication Acquisition | SPC Nickel vs. Xtera Communications | SPC Nickel vs. Comtech Telecommunications Corp | SPC Nickel vs. Gamma Communications plc |
| Shanghai Fudan vs. NVIDIA | Shanghai Fudan vs. Broadcom | Shanghai Fudan vs. Taiwan Semiconductor Manufacturing | Shanghai Fudan vs. Advanced Micro Devices |
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 CEOs Directory module to screen CEOs from public companies around the world.
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