Correlation Between Great Sun and Henan Shuanghui
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By analyzing existing cross correlation between Great Sun Foods Co and Henan Shuanghui Investment, you can compare the effects of market volatilities on Great Sun and Henan Shuanghui 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 Great Sun with a short position of Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Great Sun and Henan Shuanghui.
Diversification Opportunities for Great Sun and Henan Shuanghui
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Great and Henan is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve and Great Sun 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 Great Sun Foods Co are associated (or correlated) with Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Great Sun i.e., Great Sun and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Great Sun and Henan Shuanghui
Assuming the 90 days trading horizon Great Sun Foods Co is expected to generate 3.46 times more return on investment than Henan Shuanghui. However, Great Sun is 3.46 times more volatile than Henan Shuanghui Investment. It trades about 0.07 of its potential returns per unit of risk. Henan Shuanghui Investment is currently generating about 0.02 per unit of risk. If you would invest 384.00 in Great Sun Foods Co on October 14, 2024 and sell it today you would earn a total of 53.00 from holding Great Sun Foods Co or generate 13.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Great Sun Foods Co vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Great Sun Foods |
| Henan Shuanghui Inve |
Great Sun and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Great Sun and Henan Shuanghui
The main advantage of trading using opposite Great Sun and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Great Sun position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Great Sun vs. Guangzhou Jinyi Media | Great Sun vs. GUOMAI Culture Media | Great Sun vs. Shenzhen AV Display Co | Great Sun vs. Zhongyin Babi Food |
| Henan Shuanghui vs. Harvest Fund Management | Henan Shuanghui vs. Great Sun Foods Co | Henan Shuanghui vs. Dalian Thermal Power | Henan Shuanghui vs. Guangdong Wens Foodstuff |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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