Correlation Between Muyuan Foodstuff and Great-Sun Foods
Specify exactly 2 symbols:
By analyzing existing cross correlation between Muyuan Foodstuff Co and Great Sun Foods Co, you can compare the effects of market volatilities on Muyuan Foodstuff and Great-Sun Foods 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 Muyuan Foodstuff with a short position of Great-Sun Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Muyuan Foodstuff and Great-Sun Foods.
Diversification Opportunities for Muyuan Foodstuff and Great-Sun Foods
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Muyuan and Great-Sun is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Muyuan Foodstuff Co and Great Sun Foods Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Great Sun Foods and Muyuan Foodstuff 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 Muyuan Foodstuff Co are associated (or correlated) with Great-Sun Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Great Sun Foods has no effect on the direction of Muyuan Foodstuff i.e., Muyuan Foodstuff and Great-Sun Foods go up and down completely randomly.
Pair Corralation between Muyuan Foodstuff and Great-Sun Foods
Assuming the 90 days trading horizon Muyuan Foodstuff Co is expected to under-perform the Great-Sun Foods. But the stock apears to be less risky and, when comparing its historical volatility, Muyuan Foodstuff Co is 2.8 times less risky than Great-Sun Foods. The stock trades about -0.04 of its potential returns per unit of risk. The Great Sun Foods Co is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 430.00 in Great Sun Foods Co on November 3, 2024 and sell it today you would earn a total of 11.00 from holding Great Sun Foods Co or generate 2.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Muyuan Foodstuff Co vs. Great Sun Foods Co
Performance |
| Timeline |
| Muyuan Foodstuff |
| Great Sun Foods |
Muyuan Foodstuff and Great-Sun Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Muyuan Foodstuff and Great-Sun Foods
The main advantage of trading using opposite Muyuan Foodstuff and Great-Sun Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Muyuan Foodstuff position performs unexpectedly, Great-Sun Foods 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 Great-Sun Foods will offset losses from the drop in Great-Sun Foods' long position.| Muyuan Foodstuff vs. Heilongjiang Transport Development | Muyuan Foodstuff vs. Fiberhome Telecommunication Technologies | Muyuan Foodstuff vs. Ye Chiu Metal | Muyuan Foodstuff vs. AUPU Home Style |
| Great-Sun Foods vs. Jiaozuo Wanfang Aluminum | Great-Sun Foods vs. Ye Chiu Metal | Great-Sun Foods vs. ZYF Lopsking Aluminum | Great-Sun Foods vs. Sihui Fuji Electronics |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |