Correlation Between Great-Sun Foods and Autek China
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By analyzing existing cross correlation between Great Sun Foods Co and Autek China, you can compare the effects of market volatilities on Great-Sun Foods and Autek China 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 Foods with a short position of Autek China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Great-Sun Foods and Autek China.
Diversification Opportunities for Great-Sun Foods and Autek China
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Great-Sun and Autek is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and Autek China in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autek China and Great-Sun Foods 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 Autek China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autek China has no effect on the direction of Great-Sun Foods i.e., Great-Sun Foods and Autek China go up and down completely randomly.
Pair Corralation between Great-Sun Foods and Autek China
Assuming the 90 days trading horizon Great Sun Foods Co is expected to generate 1.28 times more return on investment than Autek China. However, Great-Sun Foods is 1.28 times more volatile than Autek China. It trades about 0.01 of its potential returns per unit of risk. Autek China is currently generating about -0.03 per unit of risk. If you would invest 528.00 in Great Sun Foods Co on December 4, 2024 and sell it today you would lose (44.00) from holding Great Sun Foods Co or give up 8.33% 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. Autek China
Performance |
| Timeline |
| Great Sun Foods |
| Autek China |
Great-Sun Foods and Autek China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Great-Sun Foods and Autek China
The main advantage of trading using opposite Great-Sun Foods and Autek China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Great-Sun Foods position performs unexpectedly, Autek China 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 Autek China will offset losses from the drop in Autek China's long position.| Great-Sun Foods vs. Xinjiang Communications Construction | Great-Sun Foods vs. Shenzhen Kexin Communication | Great-Sun Foods vs. Telling Telecommunication Holding | Great-Sun Foods vs. DO Home Collection |
| Autek China vs. Keeson Technology Corp | Autek China vs. Linewell Software Co | Autek China vs. Jointo Energy Investment | Autek China vs. Postal Savings Bank |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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