Correlation Between G Bits and Huasi Agricultural
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By analyzing existing cross correlation between G bits Network Technology and Huasi Agricultural Development, you can compare the effects of market volatilities on G Bits and Huasi Agricultural 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 Huasi Agricultural. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Huasi Agricultural.
Diversification Opportunities for G Bits and Huasi Agricultural
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 603444 and Huasi is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Huasi Agricultural Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huasi Agricultural 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 Huasi Agricultural. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huasi Agricultural has no effect on the direction of G Bits i.e., G Bits and Huasi Agricultural go up and down completely randomly.
Pair Corralation between G Bits and Huasi Agricultural
Assuming the 90 days trading horizon G Bits is expected to generate 2.74 times less return on investment than Huasi Agricultural. In addition to that, G Bits is 1.25 times more volatile than Huasi Agricultural Development. It trades about 0.07 of its total potential returns per unit of risk. Huasi Agricultural Development is currently generating about 0.24 per unit of volatility. If you would invest 288.00 in Huasi Agricultural Development on August 28, 2024 and sell it today you would earn a total of 129.00 from holding Huasi Agricultural Development or generate 44.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Huasi Agricultural Development
Performance |
| Timeline |
| G bits Network |
| Huasi Agricultural |
G Bits and Huasi Agricultural Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Huasi Agricultural
The main advantage of trading using opposite G Bits and Huasi Agricultural positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Huasi Agricultural 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 Huasi Agricultural will offset losses from the drop in Huasi Agricultural's long position.| G Bits vs. Jiangsu Financial Leasing | G Bits vs. Dhc Software Co | G Bits vs. Xinke Material | G Bits vs. Cangzhou Mingzhu Plastic |
| Huasi Agricultural vs. Industrial and Commercial | Huasi Agricultural vs. Agricultural Bank of | Huasi Agricultural vs. China Construction Bank | Huasi Agricultural vs. Bank of China |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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