Correlation Between Anji Foodstuff and Gan Yuan
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By analyzing existing cross correlation between Anji Foodstuff Co and Gan Yuan Foods, you can compare the effects of market volatilities on Anji Foodstuff 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 Anji Foodstuff with a short position of Gan Yuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Gan Yuan.
Diversification Opportunities for Anji Foodstuff and Gan Yuan
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Anji and Gan is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co 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 Anji Foodstuff 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 Anji Foodstuff Co 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 Anji Foodstuff i.e., Anji Foodstuff and Gan Yuan go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Gan Yuan
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to under-perform the Gan Yuan. In addition to that, Anji Foodstuff is 1.08 times more volatile than Gan Yuan Foods. It trades about 0.0 of its total potential returns per unit of risk. Gan Yuan Foods is currently generating about 0.02 per unit of volatility. If you would invest 7,183 in Gan Yuan Foods on September 3, 2024 and sell it today you would earn a total of 675.00 from holding Gan Yuan Foods or generate 9.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Gan Yuan Foods
Performance |
| Timeline |
| Anji Foodstuff |
| Gan Yuan Foods |
Anji Foodstuff and Gan Yuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Gan Yuan
The main advantage of trading using opposite Anji Foodstuff and Gan Yuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff 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.| Anji Foodstuff vs. Beijing Wantai Biological | Anji Foodstuff vs. Aluminum Corp of | Anji Foodstuff vs. COL Digital Publishing | Anji Foodstuff vs. Shaanxi Meineng Clean |
| Gan Yuan vs. Beijing Wantai Biological | Gan Yuan vs. Aluminum Corp of | Gan Yuan vs. COL Digital Publishing | Gan Yuan vs. Shaanxi Meineng Clean |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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