Correlation Between TELES Informationstech and Sunny Optical
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By analyzing existing cross correlation between TELES Informationstechnologien AG and Sunny Optical Technology, you can compare the effects of market volatilities on TELES Informationstech and Sunny Optical 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 TELES Informationstech with a short position of Sunny Optical. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and Sunny Optical.
Diversification Opportunities for TELES Informationstech and Sunny Optical
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between TELES and Sunny is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and Sunny Optical Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sunny Optical Technology and TELES Informationstech 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 TELES Informationstechnologien AG are associated (or correlated) with Sunny Optical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sunny Optical Technology has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and Sunny Optical go up and down completely randomly.
Pair Corralation between TELES Informationstech and Sunny Optical
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to generate 9.59 times more return on investment than Sunny Optical. However, TELES Informationstech is 9.59 times more volatile than Sunny Optical Technology. It trades about 0.14 of its potential returns per unit of risk. Sunny Optical Technology is currently generating about -0.08 per unit of risk. If you would invest 16.00 in TELES Informationstechnologien AG on September 10, 2025 and sell it today you would lose (1.00) from holding TELES Informationstechnologien AG or give up 6.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 56.25% |
| Values | Daily Returns |
TELES Informationstechnologien vs. Sunny Optical Technology
Performance |
| Timeline |
| TELES Informationstech |
| Sunny Optical Technology |
TELES Informationstech and Sunny Optical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and Sunny Optical
The main advantage of trading using opposite TELES Informationstech and Sunny Optical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, Sunny Optical 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 Sunny Optical will offset losses from the drop in Sunny Optical's long position.| TELES Informationstech vs. Nokia | TELES Informationstech vs. ZTE Corporation | TELES Informationstech vs. Hewlett Packard Enterprise | TELES Informationstech vs. Telefonaktiebolaget LM Ericsson |
| Sunny Optical vs. Samsung SDI Co | Sunny Optical vs. Mitsubishi Electric | Sunny Optical vs. Hubbell Incorporated |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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