Correlation Between Sunny Loan and Sublime China
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By analyzing existing cross correlation between Sunny Loan Top and Sublime China Information, you can compare the effects of market volatilities on Sunny Loan and Sublime China 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 Sublime China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunny Loan and Sublime China.
Diversification Opportunities for Sunny Loan and Sublime China
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sunny and Sublime is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Sunny Loan Top and Sublime China Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sublime China Information 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 Sublime China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sublime China Information has no effect on the direction of Sunny Loan i.e., Sunny Loan and Sublime China go up and down completely randomly.
Pair Corralation between Sunny Loan and Sublime China
Assuming the 90 days trading horizon Sunny Loan Top is expected to under-perform the Sublime China. But the stock apears to be less risky and, when comparing its historical volatility, Sunny Loan Top is 1.88 times less risky than Sublime China. The stock trades about -0.36 of its potential returns per unit of risk. The Sublime China Information is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 5,974 in Sublime China Information on October 29, 2024 and sell it today you would earn a total of 2,034 from holding Sublime China Information or generate 34.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sunny Loan Top vs. Sublime China Information
Performance |
| Timeline |
| Sunny Loan Top |
| Sublime China Information |
Sunny Loan and Sublime China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sunny Loan and Sublime China
The main advantage of trading using opposite Sunny Loan and Sublime China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunny Loan position performs unexpectedly, Sublime China 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 Sublime China will offset losses from the drop in Sublime China's long position.| Sunny Loan vs. Jiujiang Shanshui Technology | Sunny Loan vs. Jiahe Foods Industry | Sunny Loan vs. Eyebright Medical Technology | Sunny Loan vs. Beijing Sanyuan Foods |
| Sublime China vs. Eastern Air Logistics | Sublime China vs. Sunny Loan Top | Sublime China vs. City Development Environment | Sublime China vs. Bohai Leasing Co |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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