Correlation Between Anhui Huilong and G Bits
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By analyzing existing cross correlation between Anhui Huilong Agricultural and G bits Network Technology, you can compare the effects of market volatilities on Anhui Huilong 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 Anhui Huilong with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Huilong and G Bits.
Diversification Opportunities for Anhui Huilong and G Bits
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Anhui and 603444 is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Huilong Agricultural 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 Anhui Huilong 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 Anhui Huilong Agricultural 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 Anhui Huilong i.e., Anhui Huilong and G Bits go up and down completely randomly.
Pair Corralation between Anhui Huilong and G Bits
Assuming the 90 days trading horizon Anhui Huilong Agricultural is expected to generate 0.78 times more return on investment than G Bits. However, Anhui Huilong Agricultural is 1.28 times less risky than G Bits. It trades about -0.03 of its potential returns per unit of risk. G bits Network Technology is currently generating about -0.03 per unit of risk. If you would invest 834.00 in Anhui Huilong Agricultural on October 29, 2024 and sell it today you would lose (289.00) from holding Anhui Huilong Agricultural or give up 34.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Huilong Agricultural vs. G bits Network Technology
Performance |
| Timeline |
| Anhui Huilong Agricu |
| G bits Network |
Anhui Huilong and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Huilong and G Bits
The main advantage of trading using opposite Anhui Huilong and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Huilong 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.| Anhui Huilong vs. Zijin Mining Group | Anhui Huilong vs. Wanhua Chemical Group | Anhui Huilong vs. Baoshan Iron Steel | Anhui Huilong vs. Shandong Gold Mining |
| G Bits vs. Glodon Software Co | G Bits vs. Bingo Software Co | G Bits vs. Dymatic Chemicals | G Bits vs. Guangdong Qunxing Toys |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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