Cango Correlations

CANG Stock

USD 4.84 0.16 3.42%

The current 90-days correlation between Cango Inc and KAR Auction Services is 0.07 (i.e., Significant diversification). The correlation of Cango is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Cango Correlation With Market

Very good diversification

The correlation between Cango Inc and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cango Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cango Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Cango Stock

0.68	SDAWW	SunCar Technology	Pair Corr
0.61	CRMT	Americas Car Mart	Pair Corr

Moving against Cango Stock

0.58	GORV	Lazydays Holdings	Pair Corr
0.52	CWH	Camping World Holdings	Pair Corr
0.5	AZI	Autozi Internet Tech	Pair Corr
0.47	KXIN	Kaixin Auto Holdings	Pair Corr
0.43	RUSHA	Rush Enterprises A	Pair Corr
0.42	CARS	Cars Inc	Pair Corr
0.36	LAD	Lithia Motors Earnings Call This Week	Pair Corr
0.35	KFS	Kingsway Financial	Pair Corr
0.34	SDA	SunCar Technology	Pair Corr
0.63	F	Ford Motor	Pair Corr
0.57	BQ	Boqii Holding Limited	Pair Corr
0.5	GM	General Motors	Pair Corr
0.48	BC	Brunswick	Pair Corr
0.44	UXIN	Uxin	Pair Corr
0.42	MCFT	MCBC Holdings Upward Rally	Pair Corr
0.36	GT	Goodyear Tire Rubber Earnings Call This Week	Pair Corr
0.34	MCRI	Monarch Casino Resort Earnings Call This Week	Pair Corr
0.32	GP	GreenPower Motor Earnings Call This Week	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	KFSYF	CARS	KAR	RUSHB	RUSHA	SAH	LAD	AN	ABG
KFSYF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	KFSYF
CARS	0.0		0.49	0.61	0.64	0.43	0.86	0.27	0.42	CARS
KAR	0.0	0.49		0.68	0.09	0.67	0.4	0.63	0.41	KAR
RUSHB	0.0	0.61	0.68		0.64	0.85	0.66	0.74	0.73	RUSHB
RUSHA	0.0	0.64	0.09	0.64		0.47	0.63	0.3	0.58	RUSHA
SAH	0.0	0.43	0.67	0.85	0.47		0.47	0.95	0.85	SAH
LAD	0.0	0.86	0.4	0.66	0.63	0.47		0.3	0.6	LAD
AN	0.0	0.27	0.63	0.74	0.3	0.95	0.3		0.72	AN
ABG	0.0	0.42	0.41	0.73	0.58	0.85	0.6	0.72		ABG
	KFSYF	CARS	KAR	RUSHB	RUSHA	SAH	LAD	AN	ABG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AN	+ 0.95	SAH
LAD	+ 0.86	CARS
SAH	+ 0.85	RUSHB
ABG	+ 0.85	SAH
AN	+ 0.74	RUSHB
ABG	+ 0.73	RUSHB

High negative correlations

ABG	- 0.0	KFSYF
AN	- 0.0	KFSYF
LAD	- 0.0	KFSYF
SAH	- 0.0	KFSYF
RUSHA	- 0.0	KFSYF
RUSHB	- 0.0	KFSYF

Risk-Adjusted Indicators

There is a big difference between Cango Stock performing well and Cango Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Cango's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KFSYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CARS	1.65	0.08	0.03	0.18	1.78	(1.85)	4.66	(2.94)	10.37
KAR	1.26	0.36	0.26	0.57	0.94	(1.50)	2.29	(2.05)	14.46
RUSHB	1.66	0.22	0.10	0.50	1.62	(1.84)	2.93	(2.48)	14.10
RUSHA	1.39	0.06	0.02	0.17	1.41	(1.50)	2.90	(2.56)	12.66
SAH	1.48	0.37	0.26	0.53	1.01	(1.89)	4.11	(2.54)	13.72
LAD	1.31	0.15	0.08	0.27	1.30	(1.44)	3.13	(2.57)	9.09
AN	1.20	0.27	0.21	0.46	0.85	(1.44)	2.74	(1.82)	7.41
ABG	1.62	0.36	0.22	0.46	1.18	(1.80)	3.95	(2.67)	14.50

Cango Corporate Management

Ming Chi	Independent Director	Profile
Xiaojun Zhang	CoFounder Chairman	Profile
Zhou Langlang	Director	Profile
Yongyi Zhang	CFO Director	Profile
Liu Rong	Independent Director	Profile

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