Correlation Between Gan Yuan and Peoples Insurance
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By analyzing existing cross correlation between Gan Yuan Foods and Peoples Insurance of, you can compare the effects of market volatilities on Gan Yuan and Peoples Insurance 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 Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gan Yuan and Peoples Insurance.
Diversification Opportunities for Gan Yuan and Peoples Insurance
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Gan and Peoples is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Gan Yuan Foods and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance 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 Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Gan Yuan i.e., Gan Yuan and Peoples Insurance go up and down completely randomly.
Pair Corralation between Gan Yuan and Peoples Insurance
Assuming the 90 days trading horizon Gan Yuan is expected to generate 1.55 times less return on investment than Peoples Insurance. In addition to that, Gan Yuan is 1.27 times more volatile than Peoples Insurance of. It trades about 0.06 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about 0.13 per unit of volatility. If you would invest 532.00 in Peoples Insurance of on September 1, 2024 and sell it today you would earn a total of 192.00 from holding Peoples Insurance of or generate 36.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gan Yuan Foods vs. Peoples Insurance of
Performance |
| Timeline |
| Gan Yuan Foods |
| Peoples Insurance |
Gan Yuan and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gan Yuan and Peoples Insurance
The main advantage of trading using opposite Gan Yuan and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gan Yuan position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Gan Yuan vs. Nanjing Putian Telecommunications | Gan Yuan vs. Shenzhen Hifuture Electric | Gan Yuan vs. Tianjin Realty Development | Gan Yuan vs. Shenyang Huitian Thermal |
| Peoples Insurance vs. Ming Yang Smart | Peoples Insurance vs. 159681 | Peoples Insurance vs. 159005 | Peoples Insurance vs. Loctek Ergonomic Technology |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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