Correlation Between Epoxy Base and G Bits
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By analyzing existing cross correlation between Epoxy Base Electronic and G bits Network Technology, you can compare the effects of market volatilities on Epoxy Base 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 Epoxy Base with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epoxy Base and G Bits.
Diversification Opportunities for Epoxy Base and G Bits
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Epoxy and 603444 is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Epoxy Base Electronic 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 Epoxy Base 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 Epoxy Base Electronic 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 Epoxy Base i.e., Epoxy Base and G Bits go up and down completely randomly.
Pair Corralation between Epoxy Base and G Bits
Assuming the 90 days trading horizon Epoxy Base Electronic is expected to generate 2.31 times more return on investment than G Bits. However, Epoxy Base is 2.31 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 -0.25 per unit of risk. If you would invest 575.00 in Epoxy Base Electronic on October 28, 2024 and sell it today you would lose (8.00) from holding Epoxy Base Electronic or give up 1.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Epoxy Base Electronic vs. G bits Network Technology
Performance |
| Timeline |
| Epoxy Base Electronic |
| G bits Network |
Epoxy Base and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Epoxy Base and G Bits
The main advantage of trading using opposite Epoxy Base and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epoxy Base 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.| Epoxy Base vs. Xizi Clean Energy | Epoxy Base vs. Ziel Home Furnishing | Epoxy Base vs. Zoy Home Furnishing | Epoxy Base vs. Shandong Longquan Pipeline |
| G Bits vs. Epoxy Base Electronic | G Bits vs. Jiangyin Jianghua Microelectronics | G Bits vs. YiDong Electronics Technology | G Bits vs. Integrated Electronic Systems |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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