Correlation Between Sunny Loan and Sino Platinum
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By analyzing existing cross correlation between Sunny Loan Top and Sino Platinum Metals Co, you can compare the effects of market volatilities on Sunny Loan and Sino Platinum 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 Sino Platinum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunny Loan and Sino Platinum.
Diversification Opportunities for Sunny Loan and Sino Platinum
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sunny and Sino is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Sunny Loan Top and Sino Platinum Metals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Platinum Metals 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 Sino Platinum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Platinum Metals has no effect on the direction of Sunny Loan i.e., Sunny Loan and Sino Platinum go up and down completely randomly.
Pair Corralation between Sunny Loan and Sino Platinum
Assuming the 90 days trading horizon Sunny Loan Top is expected to under-perform the Sino Platinum. In addition to that, Sunny Loan is 2.04 times more volatile than Sino Platinum Metals Co. It trades about -0.12 of its total potential returns per unit of risk. Sino Platinum Metals Co is currently generating about -0.02 per unit of volatility. If you would invest 1,407 in Sino Platinum Metals Co on August 25, 2024 and sell it today you would lose (14.00) from holding Sino Platinum Metals Co or give up 1.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sunny Loan Top vs. Sino Platinum Metals Co
Performance |
| Timeline |
| Sunny Loan Top |
| Sino Platinum Metals |
Sunny Loan and Sino Platinum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sunny Loan and Sino Platinum
The main advantage of trading using opposite Sunny Loan and Sino Platinum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunny Loan position performs unexpectedly, Sino Platinum 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 Sino Platinum will offset losses from the drop in Sino Platinum's long position.| Sunny Loan vs. Kweichow Moutai Co | Sunny Loan vs. Contemporary Amperex Technology | Sunny Loan vs. G bits Network Technology | Sunny Loan vs. BYD Co Ltd |
| Sino Platinum vs. Fujian Newland Computer | Sino Platinum vs. Zhejiang JIULI Hi tech | Sino Platinum vs. Guangzhou Haige Communications | Sino Platinum vs. Sunny Loan Top |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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