Correlation Between JiShi Media and G Bits
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By analyzing existing cross correlation between JiShi Media Co and G bits Network Technology, you can compare the effects of market volatilities on JiShi Media 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 JiShi Media with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of JiShi Media and G Bits.
Diversification Opportunities for JiShi Media and G Bits
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between JiShi and 603444 is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding JiShi Media 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 JiShi Media 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 JiShi Media Co 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 JiShi Media i.e., JiShi Media and G Bits go up and down completely randomly.
Pair Corralation between JiShi Media and G Bits
Assuming the 90 days trading horizon JiShi Media Co is expected to generate 1.76 times more return on investment than G Bits. However, JiShi Media is 1.76 times more volatile than G bits Network Technology. It trades about 0.3 of its potential returns per unit of risk. G bits Network Technology is currently generating about 0.2 per unit of risk. If you would invest 169.00 in JiShi Media Co on November 28, 2024 and sell it today you would earn a total of 39.00 from holding JiShi Media Co or generate 23.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JiShi Media Co vs. G bits Network Technology
Performance |
| Timeline |
| JiShi Media |
| G bits Network |
JiShi Media and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JiShi Media and G Bits
The main advantage of trading using opposite JiShi Media and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JiShi Media 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.| JiShi Media vs. Industrial and Commercial | JiShi Media vs. Agricultural Bank of | JiShi Media vs. China Construction Bank | JiShi Media vs. Bank of China |
| 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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