Correlation Between Great Sun and Anhui Huilong
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By analyzing existing cross correlation between Great Sun Foods Co and Anhui Huilong Agricultural, you can compare the effects of market volatilities on Great Sun and Anhui Huilong 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 Anhui Huilong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Great Sun and Anhui Huilong.
Diversification Opportunities for Great Sun and Anhui Huilong
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Great and Anhui is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and Anhui Huilong Agricultural in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Huilong Agricu 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 Anhui Huilong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Huilong Agricu has no effect on the direction of Great Sun i.e., Great Sun and Anhui Huilong go up and down completely randomly.
Pair Corralation between Great Sun and Anhui Huilong
Assuming the 90 days trading horizon Great Sun Foods Co is expected to generate 1.76 times more return on investment than Anhui Huilong. However, Great Sun is 1.76 times more volatile than Anhui Huilong Agricultural. It trades about -0.08 of its potential returns per unit of risk. Anhui Huilong Agricultural is currently generating about -0.2 per unit of risk. If you would invest 497.00 in Great Sun Foods Co on October 30, 2024 and sell it today you would lose (56.00) from holding Great Sun Foods Co or give up 11.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Great Sun Foods Co vs. Anhui Huilong Agricultural
Performance |
| Timeline |
| Great Sun Foods |
| Anhui Huilong Agricu |
Great Sun and Anhui Huilong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Great Sun and Anhui Huilong
The main advantage of trading using opposite Great Sun and Anhui Huilong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Great Sun position performs unexpectedly, Anhui Huilong 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 Anhui Huilong will offset losses from the drop in Anhui Huilong's long position.| Great Sun vs. Lecron Energy Saving | Great Sun vs. Cicc Fund Management | Great Sun vs. Ningbo Fangzheng Automobile | Great Sun vs. Harvest Fund Management |
| Anhui Huilong vs. Zhejiang Qianjiang Motorcycle | Anhui Huilong vs. CIMC Vehicles Co | Anhui Huilong vs. Haima Automobile Group | Anhui Huilong vs. Caihong Display Devices |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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