Cango Inc. (CANG) — Stock Correlations & Overview
Over the past year, CANG has moved most closely with GAM, OWNB, BTGD. Explore the stocks most correlated and inversely correlated with CANG below, along with its price, financials, and company profile.
Stocks correlated with CANG
Correlation of daily returns. Higher positive values move with CANG; negative values move opposite it. Informational only, not investment advice.
Most correlated with CANG
| Symbol | Company | Correlation |
|---|---|---|
| GAM | General American Investors Company, Inc. | 0.46 |
| OWNB | Bitwise Bitcoin Standard Corporations ETF | 0.39 |
| BTGD | Tidal Trust II STKd 100% Bitcoin & 100% Gold ETF | 0.38 |
| COIA | ProShares Ultra COIN | 0.38 |
| SATO | Invesco Alerian Galaxy Crypto Economy ETFINVESTMENT ADVICE | 0.38 |
Most inversely correlated with CANG
| Symbol | Company | Correlation |
|---|---|---|
| CONI | GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF | -0.36 |
| BTCZ | T-Rex 2X Inverse Bitcoin Daily Target ETF | -0.34 |
| BITI | ProShares Short Bitcoin ETF | -0.34 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.34 |
| SBIT | ProShares UltraShort Bitcoin ETF | -0.34 |
Frequently asked questions about CANG correlations
- Which stocks are most correlated with CANG?
- Based on one year of daily returns, the stocks most correlated with Cango Inc. (CANG) are GAM (0.46), OWNB (0.39) and BTGD (0.38). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CANG?
- Over the past year, the stocks most inversely correlated with Cango Inc. (CANG) are CONI (-0.36), BTCZ (-0.34) and BITI (-0.34). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CANG correlations calculated?
- We compute the correlation of daily returns between CANG and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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