Correlation Between Poly Real and Gan Yuan
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By analyzing existing cross correlation between Poly Real Estate and Gan Yuan Foods, you can compare the effects of market volatilities on Poly Real 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 Poly Real with a short position of Gan Yuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Poly Real and Gan Yuan.
Diversification Opportunities for Poly Real and Gan Yuan
Modest diversification
The 3 months correlation between Poly and Gan is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Poly Real Estate 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 Poly Real 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 Poly Real Estate 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 Poly Real i.e., Poly Real and Gan Yuan go up and down completely randomly.
Pair Corralation between Poly Real and Gan Yuan
Assuming the 90 days trading horizon Poly Real Estate is expected to generate 0.51 times more return on investment than Gan Yuan. However, Poly Real Estate is 1.97 times less risky than Gan Yuan. It trades about -0.06 of its potential returns per unit of risk. Gan Yuan Foods is currently generating about -0.13 per unit of risk. If you would invest 899.00 in Poly Real Estate on December 30, 2024 and sell it today you would lose (54.00) from holding Poly Real Estate or give up 6.01% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Poly Real Estate vs. Gan Yuan Foods
Performance |
Timeline |
Poly Real Estate |
Gan Yuan Foods |
Poly Real and Gan Yuan Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Poly Real and Gan Yuan
The main advantage of trading using opposite Poly Real and Gan Yuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Poly Real 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.Poly Real vs. Beijing Jiaman Dress | Poly Real vs. China Minmetals Rare | Poly Real vs. Bosera CMSK Industrial | Poly Real vs. Runben Biotechnology Co |
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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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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