Correlation Between Gan Yuan and Zoy Home
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By analyzing existing cross correlation between Gan Yuan Foods and Zoy Home Furnishing, you can compare the effects of market volatilities on Gan Yuan and Zoy Home 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 Zoy Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gan Yuan and Zoy Home.
Diversification Opportunities for Gan Yuan and Zoy Home
Weak diversification
The 3 months correlation between Gan and Zoy is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Gan Yuan Foods and Zoy Home Furnishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoy Home Furnishing 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 Zoy Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoy Home Furnishing has no effect on the direction of Gan Yuan i.e., Gan Yuan and Zoy Home go up and down completely randomly.
Pair Corralation between Gan Yuan and Zoy Home
Assuming the 90 days trading horizon Gan Yuan Foods is expected to generate 0.7 times more return on investment than Zoy Home. However, Gan Yuan Foods is 1.43 times less risky than Zoy Home. It trades about 0.08 of its potential returns per unit of risk. Zoy Home Furnishing is currently generating about -0.11 per unit of risk. If you would invest 8,871 in Gan Yuan Foods on October 21, 2024 and sell it today you would earn a total of 329.00 from holding Gan Yuan Foods or generate 3.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gan Yuan Foods vs. Zoy Home Furnishing
Performance |
| Timeline |
| Gan Yuan Foods |
| Zoy Home Furnishing |
Gan Yuan and Zoy Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gan Yuan and Zoy Home
The main advantage of trading using opposite Gan Yuan and Zoy Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gan Yuan position performs unexpectedly, Zoy Home 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 Zoy Home will offset losses from the drop in Zoy Home's long position.| Gan Yuan vs. Guizhou BroadcastingTV Info | Gan Yuan vs. Kingclean Electric Co | Gan Yuan vs. Fiberhome Telecommunication Technologies | Gan Yuan vs. Road Environment Technology |
| Zoy Home vs. Anji Foodstuff Co | Zoy Home vs. Jinxiandai Information Industry | Zoy Home vs. Zhengzhou Qianweiyangchu Food | Zoy Home vs. Zhongfu Information |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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