Correlation Between Golden Sun and Aspen
Can any of the company-specific risk be diversified away by investing in both Golden Sun and Aspen at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Golden Sun and Aspen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Golden Sun Education and Aspen Group, you can compare the effects of market volatilities on Golden Sun and Aspen 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 Golden Sun with a short position of Aspen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Golden Sun and Aspen.
Diversification Opportunities for Golden Sun and Aspen
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Golden and Aspen is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Golden Sun Education and Aspen Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aspen Group and Golden 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 Golden Sun Education are associated (or correlated) with Aspen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aspen Group has no effect on the direction of Golden Sun i.e., Golden Sun and Aspen go up and down completely randomly.
Pair Corralation between Golden Sun and Aspen
If you would invest 9.61 in Aspen Group on August 27, 2024 and sell it today you would earn a total of 0.00 from holding Aspen Group or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 4.76% |
| Values | Daily Returns |
Golden Sun Education vs. Aspen Group
Performance |
| Timeline |
| Golden Sun Education |
| Aspen Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Golden Sun and Aspen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Golden Sun and Aspen
The main advantage of trading using opposite Golden Sun and Aspen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Golden Sun position performs unexpectedly, Aspen 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 Aspen will offset losses from the drop in Aspen's long position.| Golden Sun vs. Wah Fu Education | Golden Sun vs. QuantaSing Group Limited | Golden Sun vs. Genius Group | Golden Sun vs. China Liberal Education |
| Aspen vs. ATA Creativity Global | Aspen vs. American Public Education | Aspen vs. Skillful Craftsman Education | Aspen vs. China Liberal Education |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |