Correlation Between G Bits and China Vanke
Specify exactly 2 symbols:
By analyzing existing cross correlation between G bits Network Technology and China Vanke Co, you can compare the effects of market volatilities on G Bits and China Vanke 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 G Bits with a short position of China Vanke. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and China Vanke.
Diversification Opportunities for G Bits and China Vanke
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 603444 and China is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and China Vanke Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Vanke and G Bits 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 G bits Network Technology are associated (or correlated) with China Vanke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Vanke has no effect on the direction of G Bits i.e., G Bits and China Vanke go up and down completely randomly.
Pair Corralation between G Bits and China Vanke
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the China Vanke. In addition to that, G Bits is 1.01 times more volatile than China Vanke Co. It trades about -0.02 of its total potential returns per unit of risk. China Vanke Co is currently generating about -0.02 per unit of volatility. If you would invest 1,078 in China Vanke Co on September 3, 2024 and sell it today you would lose (210.00) from holding China Vanke Co or give up 19.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. China Vanke Co
Performance |
| Timeline |
| G bits Network |
| China Vanke |
G Bits and China Vanke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and China Vanke
The main advantage of trading using opposite G Bits and China Vanke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, China Vanke 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 China Vanke will offset losses from the drop in China Vanke's long position.| G Bits vs. Duzhe Publishing Media | G Bits vs. JiShi Media Co | G Bits vs. Beijing Yanjing Brewery | G Bits vs. Integrated Electronic Systems |
| China Vanke vs. Eastroc Beverage Group | China Vanke vs. Shanghai CEO Environmental | China Vanke vs. Sanbo Hospital Management | China Vanke vs. Penyao Environmental Protection |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |