Correlation Between SUNSEA Telecommunicatio and G Bits
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By analyzing existing cross correlation between SUNSEA Telecommunications Co and G bits Network Technology, you can compare the effects of market volatilities on SUNSEA Telecommunicatio and G Bits 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 SUNSEA Telecommunicatio with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of SUNSEA Telecommunicatio and G Bits.
Diversification Opportunities for SUNSEA Telecommunicatio and G Bits
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between SUNSEA and 603444 is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding SUNSEA Telecommunications Co and G bits Network Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G bits Network and SUNSEA Telecommunicatio 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 SUNSEA Telecommunications Co are associated (or correlated) with G Bits. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G bits Network has no effect on the direction of SUNSEA Telecommunicatio i.e., SUNSEA Telecommunicatio and G Bits go up and down completely randomly.
Pair Corralation between SUNSEA Telecommunicatio and G Bits
Assuming the 90 days trading horizon SUNSEA Telecommunications Co is expected to generate 1.46 times more return on investment than G Bits. However, SUNSEA Telecommunicatio is 1.46 times more volatile than G bits Network Technology. It trades about 0.04 of its potential returns per unit of risk. G bits Network Technology is currently generating about -0.02 per unit of risk. If you would invest 625.00 in SUNSEA Telecommunications Co on October 25, 2024 and sell it today you would earn a total of 333.00 from holding SUNSEA Telecommunications Co or generate 53.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
SUNSEA Telecommunications Co vs. G bits Network Technology
Performance |
| Timeline |
| SUNSEA Telecommunicatio |
| G bits Network |
SUNSEA Telecommunicatio and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SUNSEA Telecommunicatio and G Bits
The main advantage of trading using opposite SUNSEA Telecommunicatio and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SUNSEA Telecommunicatio position performs unexpectedly, G Bits 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 G Bits will offset losses from the drop in G Bits' long position.| SUNSEA Telecommunicatio vs. Kweichow Moutai Co | SUNSEA Telecommunicatio vs. NAURA Technology Group | SUNSEA Telecommunicatio vs. APT Medical | SUNSEA Telecommunicatio vs. BYD Co Ltd |
| G Bits vs. Jiahe Foods Industry | G Bits vs. Fujian Boss Software | G Bits vs. Guangdong Wens Foodstuff | G Bits vs. HaiXin Foods Co |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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