Correlation Between Anker Innovations and Gan Yuan
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By analyzing existing cross correlation between Anker Innovations Technology and Gan Yuan Foods, you can compare the effects of market volatilities on Anker Innovations and Gan Yuan 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 Anker Innovations with a short position of Gan Yuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anker Innovations and Gan Yuan.
Diversification Opportunities for Anker Innovations and Gan Yuan
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Anker and Gan is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Anker Innovations Technology and Gan Yuan Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gan Yuan Foods and Anker Innovations 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 Anker Innovations Technology are associated (or correlated) with Gan Yuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gan Yuan Foods has no effect on the direction of Anker Innovations i.e., Anker Innovations and Gan Yuan go up and down completely randomly.
Pair Corralation between Anker Innovations and Gan Yuan
Assuming the 90 days trading horizon Anker Innovations Technology is expected to under-perform the Gan Yuan. In addition to that, Anker Innovations is 1.06 times more volatile than Gan Yuan Foods. It trades about -0.23 of its total potential returns per unit of risk. Gan Yuan Foods is currently generating about -0.13 per unit of volatility. If you would invest 7,718 in Gan Yuan Foods on December 27, 2024 and sell it today you would lose (648.00) from holding Gan Yuan Foods or give up 8.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Anker Innovations Technology vs. Gan Yuan Foods
Performance |
| Timeline |
| Anker Innovations |
| Gan Yuan Foods |
Anker Innovations and Gan Yuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anker Innovations and Gan Yuan
The main advantage of trading using opposite Anker Innovations and Gan Yuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anker Innovations position performs unexpectedly, Gan Yuan 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 Gan Yuan will offset losses from the drop in Gan Yuan's long position.| Anker Innovations vs. Wonders Information | Anker Innovations vs. Northking Information Technology | Anker Innovations vs. Keli Sensing Technology | Anker Innovations vs. HUAQIN TECHNOLOGY LTD |
| Gan Yuan vs. Zoje Resources Investment | Gan Yuan vs. Metro Investment Development | Gan Yuan vs. Luyin Investment Group | Gan Yuan vs. Huawen Media Investment |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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