Correlation Between Great Sun and Grandblue Environment
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By analyzing existing cross correlation between Great Sun Foods Co and Grandblue Environment Co, you can compare the effects of market volatilities on Great Sun and Grandblue Environment 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 Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Great Sun and Grandblue Environment.
Diversification Opportunities for Great Sun and Grandblue Environment
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Great and Grandblue is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment 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 Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of Great Sun i.e., Great Sun and Grandblue Environment go up and down completely randomly.
Pair Corralation between Great Sun and Grandblue Environment
Assuming the 90 days trading horizon Great Sun Foods Co is expected to under-perform the Grandblue Environment. In addition to that, Great Sun is 2.56 times more volatile than Grandblue Environment Co. It trades about -0.22 of its total potential returns per unit of risk. Grandblue Environment Co is currently generating about -0.04 per unit of volatility. If you would invest 2,225 in Grandblue Environment Co on October 14, 2024 and sell it today you would lose (31.00) from holding Grandblue Environment Co or give up 1.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Great Sun Foods Co vs. Grandblue Environment Co
Performance |
| Timeline |
| Great Sun Foods |
| Grandblue Environment |
Great Sun and Grandblue Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Great Sun and Grandblue Environment
The main advantage of trading using opposite Great Sun and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Great Sun position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.| Great Sun vs. Jiangsu Financial Leasing | Great Sun vs. Unisplendour Corp | Great Sun vs. Zoje Resources Investment | Great Sun vs. GRG Banking Equipment |
| Grandblue Environment vs. PKU HealthCare Corp | Grandblue Environment vs. Humanwell Healthcare Group | Grandblue Environment vs. China Asset Management | Grandblue Environment vs. Everjoy Health Group |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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