Correlation Between G Bits and Beijing Bewinner
Specify exactly 2 symbols:
By analyzing existing cross correlation between G bits Network Technology and Beijing Bewinner Communications, you can compare the effects of market volatilities on G Bits and Beijing Bewinner 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 Beijing Bewinner. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Beijing Bewinner.
Diversification Opportunities for G Bits and Beijing Bewinner
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between 603444 and Beijing is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Beijing Bewinner Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Bewinner Com 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 Beijing Bewinner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Bewinner Com has no effect on the direction of G Bits i.e., G Bits and Beijing Bewinner go up and down completely randomly.
Pair Corralation between G Bits and Beijing Bewinner
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 0.51 times more return on investment than Beijing Bewinner. However, G bits Network Technology is 1.96 times less risky than Beijing Bewinner. It trades about -0.14 of its potential returns per unit of risk. Beijing Bewinner Communications is currently generating about -0.4 per unit of risk. If you would invest 22,245 in G bits Network Technology on October 14, 2024 and sell it today you would lose (1,465) from holding G bits Network Technology or give up 6.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Beijing Bewinner Communication
Performance |
| Timeline |
| G bits Network |
| Beijing Bewinner Com |
G Bits and Beijing Bewinner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Beijing Bewinner
The main advantage of trading using opposite G Bits and Beijing Bewinner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Beijing Bewinner 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 Beijing Bewinner will offset losses from the drop in Beijing Bewinner's long position.| G Bits vs. Western Metal Materials | G Bits vs. Yili Chuanning Biotechnology | G Bits vs. Shandong Hongchuang Aluminum | G Bits vs. Ye Chiu Metal |
| Beijing Bewinner vs. Kweichow Moutai Co | Beijing Bewinner vs. Shenzhen Mindray Bio Medical | Beijing Bewinner vs. Jiangsu Pacific Quartz | Beijing Bewinner 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |