Correlation Between Great-Sun Foods and Dosilicon
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By analyzing existing cross correlation between Great Sun Foods Co and Dosilicon Co, you can compare the effects of market volatilities on Great-Sun Foods and Dosilicon 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 Dosilicon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Great-Sun Foods and Dosilicon.
Diversification Opportunities for Great-Sun Foods and Dosilicon
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Great-Sun and Dosilicon is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Great Sun Foods Co and Dosilicon Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dosilicon 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 Dosilicon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dosilicon has no effect on the direction of Great-Sun Foods i.e., Great-Sun Foods and Dosilicon go up and down completely randomly.
Pair Corralation between Great-Sun Foods and Dosilicon
Assuming the 90 days trading horizon Great Sun Foods Co is expected to generate 0.98 times more return on investment than Dosilicon. However, Great Sun Foods Co is 1.02 times less risky than Dosilicon. It trades about 0.18 of its potential returns per unit of risk. Dosilicon Co is currently generating about 0.01 per unit of risk. If you would invest 404.00 in Great Sun Foods Co on November 4, 2024 and sell it today you would earn a total of 37.00 from holding Great Sun Foods Co or generate 9.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Great Sun Foods Co vs. Dosilicon Co
Performance |
| Timeline |
| Great Sun Foods |
| Dosilicon |
Great-Sun Foods and Dosilicon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Great-Sun Foods and Dosilicon
The main advantage of trading using opposite Great-Sun Foods and Dosilicon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Great-Sun Foods position performs unexpectedly, Dosilicon 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 Dosilicon will offset losses from the drop in Dosilicon's long position.| Great-Sun Foods vs. Queclink Wireless Solutions | Great-Sun Foods vs. Shanghai Rongtai Health | Great-Sun Foods vs. Cansino Biologics | Great-Sun Foods vs. Hangzhou Minsheng Healthcare |
| Dosilicon vs. Emdoor Information Co | Dosilicon vs. Touchstone International Medical | Dosilicon vs. Invengo Information Technology | Dosilicon vs. Northking Information Technology |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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