Correlation Between Gan Yuan and Harvest Fund
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By analyzing existing cross correlation between Gan Yuan Foods and Harvest Fund Management, you can compare the effects of market volatilities on Gan Yuan and Harvest Fund 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 Gan Yuan with a short position of Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gan Yuan and Harvest Fund.
Diversification Opportunities for Gan Yuan and Harvest Fund
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Gan and Harvest is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Gan Yuan Foods and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund Management and Gan Yuan 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 Gan Yuan Foods are associated (or correlated) with Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Gan Yuan i.e., Gan Yuan and Harvest Fund go up and down completely randomly.
Pair Corralation between Gan Yuan and Harvest Fund
Assuming the 90 days trading horizon Gan Yuan Foods is expected to generate 1.93 times more return on investment than Harvest Fund. However, Gan Yuan is 1.93 times more volatile than Harvest Fund Management. It trades about 0.02 of its potential returns per unit of risk. Harvest Fund Management is currently generating about -0.05 per unit of risk. If you would invest 7,210 in Gan Yuan Foods on August 30, 2024 and sell it today you would earn a total of 633.00 from holding Gan Yuan Foods or generate 8.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 92.23% |
| Values | Daily Returns |
Gan Yuan Foods vs. Harvest Fund Management
Performance |
| Timeline |
| Gan Yuan Foods |
| Harvest Fund Management |
Gan Yuan and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gan Yuan and Harvest Fund
The main advantage of trading using opposite Gan Yuan and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gan Yuan position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Gan Yuan vs. PetroChina Co Ltd | Gan Yuan vs. China Mobile Limited | Gan Yuan vs. Ping An Insurance | Gan Yuan vs. China Petroleum Chemical |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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