Correlation Between GoHealth and SANLTD
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By analyzing existing cross correlation between GoHealth and SANLTD 28 08 MAR 27, you can compare the effects of market volatilities on GoHealth and SANLTD 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 GoHealth with a short position of SANLTD. Check out your portfolio center. Please also check ongoing floating volatility patterns of GoHealth and SANLTD.
Diversification Opportunities for GoHealth and SANLTD
Very weak diversification
The 3 months correlation between GoHealth and SANLTD is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding GoHealth and SANLTD 28 08 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SANLTD 28 08 and GoHealth 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 GoHealth are associated (or correlated) with SANLTD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SANLTD 28 08 has no effect on the direction of GoHealth i.e., GoHealth and SANLTD go up and down completely randomly.
Pair Corralation between GoHealth and SANLTD
Given the investment horizon of 90 days GoHealth is expected to generate 4.65 times more return on investment than SANLTD. However, GoHealth is 4.65 times more volatile than SANLTD 28 08 MAR 27. It trades about 0.05 of its potential returns per unit of risk. SANLTD 28 08 MAR 27 is currently generating about -0.09 per unit of risk. If you would invest 1,039 in GoHealth on September 3, 2024 and sell it today you would earn a total of 242.00 from holding GoHealth or generate 23.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 45.89% |
| Values | Daily Returns |
GoHealth vs. SANLTD 28 08 MAR 27
Performance |
| Timeline |
| GoHealth |
| SANLTD 28 08 |
GoHealth and SANLTD Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GoHealth and SANLTD
The main advantage of trading using opposite GoHealth and SANLTD positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GoHealth position performs unexpectedly, SANLTD 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 SANLTD will offset losses from the drop in SANLTD's long position.| GoHealth vs. eHealth | GoHealth vs. Tian Ruixiang Holdings | GoHealth vs. Huize Holding | GoHealth vs. Selectquote |
| SANLTD vs. PVH Corp | SANLTD vs. American Eagle Outfitters | SANLTD vs. Steven Madden | SANLTD vs. Silo Pharma |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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