Correlation Between G Bits and Dezhan HealthCare
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By analyzing existing cross correlation between G bits Network Technology and Dezhan HealthCare Co, you can compare the effects of market volatilities on G Bits and Dezhan HealthCare 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 Dezhan HealthCare. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Dezhan HealthCare.
Diversification Opportunities for G Bits and Dezhan HealthCare
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between 603444 and Dezhan is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Dezhan HealthCare Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dezhan HealthCare 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 Dezhan HealthCare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dezhan HealthCare has no effect on the direction of G Bits i.e., G Bits and Dezhan HealthCare go up and down completely randomly.
Pair Corralation between G Bits and Dezhan HealthCare
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Dezhan HealthCare. In addition to that, G Bits is 1.03 times more volatile than Dezhan HealthCare Co. It trades about -0.01 of its total potential returns per unit of risk. Dezhan HealthCare Co is currently generating about 0.02 per unit of volatility. If you would invest 412.00 in Dezhan HealthCare Co on September 14, 2024 and sell it today you would earn a total of 8.00 from holding Dezhan HealthCare Co or generate 1.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Dezhan HealthCare Co
Performance |
| Timeline |
| G bits Network |
| Dezhan HealthCare |
G Bits and Dezhan HealthCare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Dezhan HealthCare
The main advantage of trading using opposite G Bits and Dezhan HealthCare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Dezhan HealthCare 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 Dezhan HealthCare will offset losses from the drop in Dezhan HealthCare's long position.| G Bits vs. Invengo Information Technology | G Bits vs. GRINM Semiconductor Materials | G Bits vs. GigaDevice SemiconductorBeiji | G Bits vs. Guangzhou Dongfang Hotel |
| Dezhan HealthCare vs. BeiGene | Dezhan HealthCare vs. Kweichow Moutai Co | Dezhan HealthCare vs. Beijing Roborock Technology | Dezhan HealthCare vs. G bits Network 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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