Correlation Between Gan Yuan and BeiGene
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By analyzing existing cross correlation between Gan Yuan Foods and BeiGene, you can compare the effects of market volatilities on Gan Yuan and BeiGene 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 BeiGene. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gan Yuan and BeiGene.
Diversification Opportunities for Gan Yuan and BeiGene
Pay attention - limited upside
The 3 months correlation between Gan and BeiGene is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gan Yuan Foods and BeiGene in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BeiGene 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 BeiGene. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BeiGene has no effect on the direction of Gan Yuan i.e., Gan Yuan and BeiGene go up and down completely randomly.
Pair Corralation between Gan Yuan and BeiGene
If you would invest (100.00) in BeiGene on November 4, 2024 and sell it today you would earn a total of 100.00 from holding BeiGene or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Gan Yuan Foods vs. BeiGene
Performance |
| Timeline |
| Gan Yuan Foods |
| BeiGene |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
Gan Yuan and BeiGene Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gan Yuan and BeiGene
The main advantage of trading using opposite Gan Yuan and BeiGene positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gan Yuan position performs unexpectedly, BeiGene 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 BeiGene will offset losses from the drop in BeiGene's long position.| Gan Yuan vs. Bus Online Co | Gan Yuan vs. Chengdu Xingrong Investment | Gan Yuan vs. Hunan Investment Group | Gan Yuan vs. Chison Medical Technologies |
| BeiGene vs. Sanbo Hospital Management | BeiGene vs. Humanwell Healthcare Group | BeiGene vs. Youngy Health Co | BeiGene vs. Yunnan Jianzhijia Health Chain |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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