Correlation Between Qilu Bank and G-bits Network
Specify exactly 2 symbols:
By analyzing existing cross correlation between Qilu Bank Co and G bits Network Technology, you can compare the effects of market volatilities on Qilu Bank and G-bits Network 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 Qilu Bank with a short position of G-bits Network. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and G-bits Network.
Diversification Opportunities for Qilu Bank and G-bits Network
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Qilu and G-bits is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co 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 Qilu Bank 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 Qilu Bank Co are associated (or correlated) with G-bits Network. 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 Qilu Bank i.e., Qilu Bank and G-bits Network go up and down completely randomly.
Pair Corralation between Qilu Bank and G-bits Network
Assuming the 90 days trading horizon Qilu Bank is expected to generate 1.58 times less return on investment than G-bits Network. In addition to that, Qilu Bank is 1.06 times more volatile than G bits Network Technology. It trades about 0.25 of its total potential returns per unit of risk. G bits Network Technology is currently generating about 0.41 per unit of volatility. If you would invest 20,858 in G bits Network Technology on November 22, 2024 and sell it today you would earn a total of 3,103 from holding G bits Network Technology or generate 14.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. G bits Network Technology
Performance |
| Timeline |
| Qilu Bank |
| G bits Network |
Qilu Bank and G-bits Network Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qilu Bank and G-bits Network
The main advantage of trading using opposite Qilu Bank and G-bits Network positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, G-bits Network 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 Network will offset losses from the drop in G-bits Network's long position.| Qilu Bank vs. Heilongjiang Transport Development | Qilu Bank vs. HUAQIN TECHNOLOGY LTD | Qilu Bank vs. Sportsoul Co Ltd | Qilu Bank vs. Jiangsu Jinling Sports |
| G-bits Network vs. Huaxia Fund Management | G-bits Network vs. Shanghai Yaoji Playing | G-bits Network vs. Shenzhen AV Display Co | G-bits Network vs. Offcn Education Technology |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |