Correlation Between SunOpta and GBLATL
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By analyzing existing cross correlation between SunOpta and GBLATL 1625 15 JAN 26, you can compare the effects of market volatilities on SunOpta and GBLATL 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 SunOpta with a short position of GBLATL. Check out your portfolio center. Please also check ongoing floating volatility patterns of SunOpta and GBLATL.
Diversification Opportunities for SunOpta and GBLATL
Significant diversification
The 3 months correlation between SunOpta and GBLATL is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding SunOpta and GBLATL 1625 15 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBLATL 1625 15 and SunOpta 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 SunOpta are associated (or correlated) with GBLATL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBLATL 1625 15 has no effect on the direction of SunOpta i.e., SunOpta and GBLATL go up and down completely randomly.
Pair Corralation between SunOpta and GBLATL
Given the investment horizon of 90 days SunOpta is expected to generate 2.83 times more return on investment than GBLATL. However, SunOpta is 2.83 times more volatile than GBLATL 1625 15 JAN 26. It trades about 0.07 of its potential returns per unit of risk. GBLATL 1625 15 JAN 26 is currently generating about -0.05 per unit of risk. If you would invest 608.00 in SunOpta on September 2, 2024 and sell it today you would earn a total of 167.00 from holding SunOpta or generate 27.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 50.0% |
| Values | Daily Returns |
SunOpta vs. GBLATL 1625 15 JAN 26
Performance |
| Timeline |
| SunOpta |
| GBLATL 1625 15 |
SunOpta and GBLATL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SunOpta and GBLATL
The main advantage of trading using opposite SunOpta and GBLATL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SunOpta position performs unexpectedly, GBLATL 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 GBLATL will offset losses from the drop in GBLATL's long position.| SunOpta vs. Seneca Foods Corp | SunOpta vs. Central Garden Pet | SunOpta vs. Central Garden Pet | SunOpta vs. Natures Sunshine Products |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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