Correlation Between Peoples Insurance and G Bits
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By analyzing existing cross correlation between Peoples Insurance of and G bits Network Technology, you can compare the effects of market volatilities on Peoples Insurance 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 Peoples Insurance with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Peoples Insurance and G Bits.
Diversification Opportunities for Peoples Insurance and G Bits
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Peoples and 603444 is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Peoples Insurance of 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 Peoples Insurance 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 Peoples Insurance of 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 Peoples Insurance i.e., Peoples Insurance and G Bits go up and down completely randomly.
Pair Corralation between Peoples Insurance and G Bits
Assuming the 90 days trading horizon Peoples Insurance of is expected to generate 0.64 times more return on investment than G Bits. However, Peoples Insurance of is 1.55 times less risky than G Bits. It trades about 0.08 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 473.00 in Peoples Insurance of on October 16, 2024 and sell it today you would earn a total of 192.00 from holding Peoples Insurance of or generate 40.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Peoples Insurance of vs. G bits Network Technology
Performance |
| Timeline |
| Peoples Insurance |
| G bits Network |
Peoples Insurance and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Peoples Insurance and G Bits
The main advantage of trading using opposite Peoples Insurance and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Peoples Insurance 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.| Peoples Insurance vs. Shanghai CEO Environmental | Peoples Insurance vs. AVIC Fund Management | Peoples Insurance vs. Allmed Medical Products | Peoples Insurance vs. BrightGene Bio Medical |
| G Bits vs. Anhui Huilong Agricultural | G Bits vs. Bank of Suzhou | G Bits vs. Masterwork Machinery | G Bits vs. Peoples Insurance of |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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