Correlation Between Olympic Circuit and Great-Sun Foods
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By analyzing existing cross correlation between Olympic Circuit Technology and Great Sun Foods Co, you can compare the effects of market volatilities on Olympic Circuit and Great-Sun Foods 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 Olympic Circuit with a short position of Great-Sun Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Olympic Circuit and Great-Sun Foods.
Diversification Opportunities for Olympic Circuit and Great-Sun Foods
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Olympic and Great-Sun is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Olympic Circuit Technology and Great Sun Foods Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Great Sun Foods and Olympic Circuit 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 Olympic Circuit Technology are associated (or correlated) with Great-Sun Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Great Sun Foods has no effect on the direction of Olympic Circuit i.e., Olympic Circuit and Great-Sun Foods go up and down completely randomly.
Pair Corralation between Olympic Circuit and Great-Sun Foods
Assuming the 90 days trading horizon Olympic Circuit Technology is expected to generate 1.08 times more return on investment than Great-Sun Foods. However, Olympic Circuit is 1.08 times more volatile than Great Sun Foods Co. It trades about 0.13 of its potential returns per unit of risk. Great Sun Foods Co is currently generating about 0.1 per unit of risk. If you would invest 1,842 in Olympic Circuit Technology on November 3, 2024 and sell it today you would earn a total of 1,387 from holding Olympic Circuit Technology or generate 75.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Olympic Circuit Technology vs. Great Sun Foods Co
Performance |
| Timeline |
| Olympic Circuit Tech |
| Great Sun Foods |
Olympic Circuit and Great-Sun Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Olympic Circuit and Great-Sun Foods
The main advantage of trading using opposite Olympic Circuit and Great-Sun Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Olympic Circuit position performs unexpectedly, Great-Sun Foods 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 Great-Sun Foods will offset losses from the drop in Great-Sun Foods' long position.| Olympic Circuit vs. Dareway Software Co | Olympic Circuit vs. Dhc Software Co | Olympic Circuit vs. Jiangsu Hoperun Software | Olympic Circuit vs. Gansu Huangtai Wine marketing |
| Great-Sun Foods vs. Heren Health Co | Great-Sun Foods vs. Shanghai Rongtai Health | Great-Sun Foods vs. Zhengzhou Coal Mining | Great-Sun Foods vs. Anhui Jinhe Industrial |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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