Correlation Between Metro Investment and G Bits
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By analyzing existing cross correlation between Metro Investment Development and G bits Network Technology, you can compare the effects of market volatilities on Metro Investment 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 Metro Investment with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Metro Investment and G Bits.
Diversification Opportunities for Metro Investment and G Bits
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Metro and 603444 is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Metro Investment Development 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 Metro Investment 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 Metro Investment Development 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 Metro Investment i.e., Metro Investment and G Bits go up and down completely randomly.
Pair Corralation between Metro Investment and G Bits
Assuming the 90 days trading horizon Metro Investment Development is expected to generate 1.22 times more return on investment than G Bits. However, Metro Investment is 1.22 times more volatile than G bits Network Technology. It trades about 0.0 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 499.00 in Metro Investment Development on November 28, 2024 and sell it today you would lose (106.00) from holding Metro Investment Development or give up 21.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Metro Investment Development vs. G bits Network Technology
Performance |
| Timeline |
| Metro Investment Dev |
| G bits Network |
Metro Investment and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Metro Investment and G Bits
The main advantage of trading using opposite Metro Investment and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Metro Investment 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.| Metro Investment vs. BeiGene | Metro Investment vs. Kweichow Moutai Co | Metro Investment vs. Beijing Roborock Technology | Metro Investment vs. G bits Network Technology |
| G Bits vs. Winall Hi tech | G Bits vs. Qingdao Hi Tech Moulds | G Bits vs. Fiberhome Telecommunication Technologies | G Bits vs. Wintao Communications 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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