Correlation Between G Bits and Anhui Huilong
Specify exactly 2 symbols:
By analyzing existing cross correlation between G bits Network Technology and Anhui Huilong Agricultural, you can compare the effects of market volatilities on G Bits and Anhui Huilong 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 Anhui Huilong. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Anhui Huilong.
Diversification Opportunities for G Bits and Anhui Huilong
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 603444 and Anhui is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Anhui Huilong Agricultural in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Huilong Agricu 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 Anhui Huilong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Huilong Agricu has no effect on the direction of G Bits i.e., G Bits and Anhui Huilong go up and down completely randomly.
Pair Corralation between G Bits and Anhui Huilong
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Anhui Huilong. In addition to that, G Bits is 1.28 times more volatile than Anhui Huilong Agricultural. It trades about -0.02 of its total potential returns per unit of risk. Anhui Huilong Agricultural is currently generating about -0.03 per unit of volatility. If you would invest 822.00 in Anhui Huilong Agricultural on October 16, 2024 and sell it today you would lose (292.00) from holding Anhui Huilong Agricultural or give up 35.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Anhui Huilong Agricultural
Performance |
| Timeline |
| G bits Network |
| Anhui Huilong Agricu |
G Bits and Anhui Huilong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Anhui Huilong
The main advantage of trading using opposite G Bits and Anhui Huilong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Anhui Huilong 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 Anhui Huilong will offset losses from the drop in Anhui Huilong's long position.| G Bits vs. Tianjin Ruixin Technology | G Bits vs. Kuangda Technology Group | G Bits vs. Dymatic Chemicals | G Bits vs. Ningxia Younglight Chemicals |
| Anhui Huilong vs. Great Sun Foods Co | Anhui Huilong vs. Suzhou Weizhixiang Food | Anhui Huilong vs. Hangzhou Gaoxin Rubber | Anhui Huilong vs. Malion New Materials |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |