Correlation Between Suofeiya Home and G Bits
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By analyzing existing cross correlation between Suofeiya Home Collection and G bits Network Technology, you can compare the effects of market volatilities on Suofeiya Home 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 Suofeiya Home with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suofeiya Home and G Bits.
Diversification Opportunities for Suofeiya Home and G Bits
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Suofeiya and 603444 is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Suofeiya Home Collection 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 Suofeiya Home 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 Suofeiya Home Collection 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 Suofeiya Home i.e., Suofeiya Home and G Bits go up and down completely randomly.
Pair Corralation between Suofeiya Home and G Bits
Assuming the 90 days trading horizon Suofeiya Home Collection is expected to generate 0.87 times more return on investment than G Bits. However, Suofeiya Home Collection is 1.14 times less risky than G Bits. It trades about 0.0 of its potential returns per unit of risk. G bits Network Technology is currently generating about -0.06 per unit of risk. If you would invest 1,905 in Suofeiya Home Collection on November 27, 2024 and sell it today you would lose (210.00) from holding Suofeiya Home Collection or give up 11.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suofeiya Home Collection vs. G bits Network Technology
Performance |
| Timeline |
| Suofeiya Home Collection |
| G bits Network |
Suofeiya Home and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suofeiya Home and G Bits
The main advantage of trading using opposite Suofeiya Home and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suofeiya Home 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.| Suofeiya Home vs. Dr Peng Telecom | Suofeiya Home vs. Maccura Biotechnology Co | Suofeiya Home vs. Shanghai Rightongene Biotechnology | Suofeiya Home vs. Yili Chuanning Biotechnology |
| G Bits vs. Ligao Foods CoLtd | G Bits vs. Xinjiang Tianrun Dairy | G Bits vs. Zhejiang Yongjin Metal | G Bits vs. Jiahe Foods Industry |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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