Correlation Between Fujian Boss and G Bits
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By analyzing existing cross correlation between Fujian Boss Software and G bits Network Technology, you can compare the effects of market volatilities on Fujian Boss 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 Fujian Boss with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Boss and G Bits.
Diversification Opportunities for Fujian Boss and G Bits
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Fujian and 603444 is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Boss Software 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 Fujian Boss 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 Fujian Boss Software 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 Fujian Boss i.e., Fujian Boss and G Bits go up and down completely randomly.
Pair Corralation between Fujian Boss and G Bits
Assuming the 90 days trading horizon Fujian Boss Software is expected to under-perform the G Bits. In addition to that, Fujian Boss is 1.44 times more volatile than G bits Network Technology. It trades about -0.32 of its total potential returns per unit of risk. G bits Network Technology is currently generating about -0.2 per unit of volatility. If you would invest 22,327 in G bits Network Technology on October 25, 2024 and sell it today you would lose (1,547) from holding G bits Network Technology or give up 6.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Boss Software vs. G bits Network Technology
Performance |
| Timeline |
| Fujian Boss Software |
| G bits Network |
Fujian Boss and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Boss and G Bits
The main advantage of trading using opposite Fujian Boss and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Boss 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.| Fujian Boss vs. Kweichow Moutai Co | Fujian Boss vs. NAURA Technology Group | Fujian Boss vs. APT Medical | Fujian Boss 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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