Correlation Between China Publishing and Great-Sun Foods
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By analyzing existing cross correlation between China Publishing Media and Great Sun Foods Co, you can compare the effects of market volatilities on China Publishing 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 Publishing with a short position of Great-Sun Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Publishing and Great-Sun Foods.
Diversification Opportunities for China Publishing and Great-Sun Foods
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between China and Great-Sun is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding China Publishing Media 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 Publishing 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 Publishing Media 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 Publishing i.e., China Publishing and Great-Sun Foods go up and down completely randomly.
Pair Corralation between China Publishing and Great-Sun Foods
Assuming the 90 days trading horizon China Publishing is expected to generate 3.16 times less return on investment than Great-Sun Foods. But when comparing it to its historical volatility, China Publishing Media is 1.24 times less risky than Great-Sun Foods. It trades about 0.02 of its potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 328.00 in Great Sun Foods Co on November 3, 2024 and sell it today you would earn a total of 113.00 from holding Great Sun Foods Co or generate 34.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Publishing Media vs. Great Sun Foods Co
Performance |
| Timeline |
| China Publishing Media |
| Great Sun Foods |
China Publishing and Great-Sun Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Publishing and Great-Sun Foods
The main advantage of trading using opposite China Publishing and Great-Sun Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Publishing 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 Publishing vs. Jinyu Bio Technology Co | China Publishing vs. Beijing Kingsoft Office | China Publishing vs. Bangyan Technology Co | China Publishing vs. Dhc Software Co |
| Great-Sun Foods vs. Jiaozuo Wanfang Aluminum | Great-Sun Foods vs. Ye Chiu Metal | Great-Sun Foods vs. ZYF Lopsking Aluminum | Great-Sun Foods vs. Sihui Fuji Electronics |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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