Golden Heaven Correlations

GDHG Stock   0.16  0.01  5.88%   
The current 90-days correlation between Golden Heaven Group and Celularity is -0.01 (i.e., Good diversification). The correlation of Golden Heaven is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Golden Heaven Correlation With Market

Significant diversification

The correlation between Golden Heaven Group and NYA is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Heaven Group and NYA in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Golden Heaven Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Golden Stock performing well and Golden Heaven Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Golden Heaven's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.