Correlation Between 360 Security and Great-Sun Foods
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By analyzing existing cross correlation between 360 Security Technology and Great Sun Foods Co, you can compare the effects of market volatilities on 360 Security 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 360 Security with a short position of Great-Sun Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of 360 Security and Great-Sun Foods.
Diversification Opportunities for 360 Security and Great-Sun Foods
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 360 and Great-Sun is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding 360 Security Technology 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 360 Security 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 360 Security Technology 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 360 Security i.e., 360 Security and Great-Sun Foods go up and down completely randomly.
Pair Corralation between 360 Security and Great-Sun Foods
Assuming the 90 days trading horizon 360 Security Technology is expected to generate 1.04 times more return on investment than Great-Sun Foods. However, 360 Security is 1.04 times more volatile than Great Sun Foods Co. It trades about 0.11 of its potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.1 per unit of risk. If you would invest 729.00 in 360 Security Technology on November 3, 2024 and sell it today you would earn a total of 381.00 from holding 360 Security Technology or generate 52.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
360 Security Technology vs. Great Sun Foods Co
Performance |
| Timeline |
| 360 Security Technology |
| Great Sun Foods |
360 Security and Great-Sun Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 360 Security and Great-Sun Foods
The main advantage of trading using opposite 360 Security and Great-Sun Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 360 Security 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.| 360 Security vs. Hangzhou Pinming Software | 360 Security vs. Citic Guoan Wine | 360 Security vs. Jahen Household Products | 360 Security vs. Shanghai Jinfeng Wine |
| Great-Sun Foods vs. Heren Health Co | Great-Sun Foods vs. Shanghai Rongtai Health | Great-Sun Foods vs. Zhengzhou Coal Mining | Great-Sun Foods vs. Anhui Jinhe Industrial |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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