Correlation Between Sunny Loan and Taiji Computer
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sunny Loan Top and Taiji Computer Corp, you can compare the effects of market volatilities on Sunny Loan and Taiji Computer 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 Sunny Loan with a short position of Taiji Computer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunny Loan and Taiji Computer.
Diversification Opportunities for Sunny Loan and Taiji Computer
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sunny and Taiji is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Sunny Loan Top and Taiji Computer Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Taiji Computer Corp and Sunny Loan 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 Sunny Loan Top are associated (or correlated) with Taiji Computer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Taiji Computer Corp has no effect on the direction of Sunny Loan i.e., Sunny Loan and Taiji Computer go up and down completely randomly.
Pair Corralation between Sunny Loan and Taiji Computer
Assuming the 90 days trading horizon Sunny Loan Top is expected to under-perform the Taiji Computer. But the stock apears to be less risky and, when comparing its historical volatility, Sunny Loan Top is 1.08 times less risky than Taiji Computer. The stock trades about -0.04 of its potential returns per unit of risk. The Taiji Computer Corp is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 2,131 in Taiji Computer Corp on November 6, 2024 and sell it today you would earn a total of 169.00 from holding Taiji Computer Corp or generate 7.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sunny Loan Top vs. Taiji Computer Corp
Performance |
| Timeline |
| Sunny Loan Top |
| Taiji Computer Corp |
Sunny Loan and Taiji Computer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sunny Loan and Taiji Computer
The main advantage of trading using opposite Sunny Loan and Taiji Computer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunny Loan position performs unexpectedly, Taiji Computer 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 Taiji Computer will offset losses from the drop in Taiji Computer's long position.| Sunny Loan vs. Youngy Health Co | Sunny Loan vs. AVIC Fund Management | Sunny Loan vs. Everjoy Health Group | Sunny Loan vs. Innovative Medical Management |
| Taiji Computer vs. Beijing Kingsoft Office | Taiji Computer vs. Anhui Shiny Electronic | Taiji Computer vs. Xinya Electronic Co | Taiji Computer vs. Epoxy Base Electronic |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |