Correlation Between Grandblue Environment and Great Sun
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By analyzing existing cross correlation between Grandblue Environment Co and Great Sun Foods Co, you can compare the effects of market volatilities on Grandblue Environment 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 Grandblue Environment with a short position of Great Sun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grandblue Environment and Great Sun.
Diversification Opportunities for Grandblue Environment and Great Sun
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grandblue and Great is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Grandblue Environment 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 Grandblue Environment 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 Grandblue Environment Co 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 Grandblue Environment i.e., Grandblue Environment and Great Sun go up and down completely randomly.
Pair Corralation between Grandblue Environment and Great Sun
Assuming the 90 days trading horizon Grandblue Environment is expected to generate 1.52 times less return on investment than Great Sun. But when comparing it to its historical volatility, Grandblue Environment Co is 2.42 times less risky than Great Sun. It trades about 0.08 of its potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 348.00 in Great Sun Foods Co on October 14, 2024 and sell it today you would earn a total of 89.00 from holding Great Sun Foods Co or generate 25.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grandblue Environment Co vs. Great Sun Foods Co
Performance |
| Timeline |
| Grandblue Environment |
| Great Sun Foods |
Grandblue Environment and Great Sun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grandblue Environment and Great Sun
The main advantage of trading using opposite Grandblue Environment and Great Sun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grandblue Environment 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.| Grandblue Environment vs. PKU HealthCare Corp | Grandblue Environment vs. Humanwell Healthcare Group | Grandblue Environment vs. China Asset Management | Grandblue Environment vs. Everjoy Health Group |
| Great Sun vs. Jiangsu Financial Leasing | Great Sun vs. Unisplendour Corp | Great Sun vs. Zoje Resources Investment | Great Sun vs. GRG Banking Equipment |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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