Correlation Between YLZ Information and Great Sun
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By analyzing existing cross correlation between YLZ Information Tech and Great Sun Foods Co, you can compare the effects of market volatilities on YLZ Information and Great Sun 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 YLZ Information with a short position of Great Sun. Check out your portfolio center. Please also check ongoing floating volatility patterns of YLZ Information and Great Sun.
Diversification Opportunities for YLZ Information and Great Sun
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between YLZ and Great is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding YLZ Information Tech 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 YLZ Information 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 YLZ Information Tech are associated (or correlated) with Great Sun. 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 YLZ Information i.e., YLZ Information and Great Sun go up and down completely randomly.
Pair Corralation between YLZ Information and Great Sun
Assuming the 90 days trading horizon YLZ Information Tech is expected to under-perform the Great Sun. In addition to that, YLZ Information is 1.12 times more volatile than Great Sun Foods Co. It trades about -0.01 of its total potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.01 per unit of volatility. If you would invest 520.00 in Great Sun Foods Co on September 21, 2024 and sell it today you would lose (33.00) from holding Great Sun Foods Co or give up 6.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
YLZ Information Tech vs. Great Sun Foods Co
Performance |
| Timeline |
| YLZ Information Tech |
| Great Sun Foods |
YLZ Information and Great Sun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with YLZ Information and Great Sun
The main advantage of trading using opposite YLZ Information and Great Sun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YLZ Information position performs unexpectedly, Great Sun 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 will offset losses from the drop in Great Sun's long position.| YLZ Information vs. Ming Yang Smart | YLZ Information vs. 159681 | YLZ Information vs. 159005 | YLZ Information vs. Loctek Ergonomic Technology |
| Great Sun vs. Nanjing Putian Telecommunications | Great Sun vs. Tianjin Realty Development | Great Sun vs. Kangyue Technology Co | Great Sun vs. Shenzhen Hifuture Electric |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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