Correlation Between China Mobile and Great-Sun Foods
Specify exactly 2 symbols:
By analyzing existing cross correlation between China Mobile Limited and Great Sun Foods Co, you can compare the effects of market volatilities on China Mobile and Great-Sun Foods 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 China Mobile with a short position of Great-Sun Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Mobile and Great-Sun Foods.
Diversification Opportunities for China Mobile and Great-Sun Foods
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between China and Great-Sun is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding China Mobile Limited 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 China Mobile 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 China Mobile Limited are associated (or correlated) with Great-Sun Foods. 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 China Mobile i.e., China Mobile and Great-Sun Foods go up and down completely randomly.
Pair Corralation between China Mobile and Great-Sun Foods
Assuming the 90 days trading horizon China Mobile is expected to generate 1.59 times less return on investment than Great-Sun Foods. But when comparing it to its historical volatility, China Mobile Limited is 1.33 times less risky than Great-Sun Foods. It trades about 0.03 of its potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 441.00 in Great Sun Foods Co on November 27, 2024 and sell it today you would earn a total of 3.00 from holding Great Sun Foods Co or generate 0.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Mobile Limited vs. Great Sun Foods Co
Performance |
| Timeline |
| China Mobile Limited |
| Great Sun Foods |
China Mobile and Great-Sun Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Mobile and Great-Sun Foods
The main advantage of trading using opposite China Mobile and Great-Sun Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Mobile position performs unexpectedly, Great-Sun Foods 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 Foods will offset losses from the drop in Great-Sun Foods' long position.| China Mobile vs. Caihong Display Devices | China Mobile vs. Beijing Kingsoft Office | China Mobile vs. Suofeiya Home Collection | China Mobile vs. Hua Hong Semiconductor |
| Great-Sun Foods vs. Jiangsu Phoenix Publishing | Great-Sun Foods vs. Shanghai Action Education | Great-Sun Foods vs. Cultural Investment Holdings | Great-Sun Foods vs. Luyin Investment Group |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |