Correlation Between G Bits and Suofeiya Home
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By analyzing existing cross correlation between G bits Network Technology and Suofeiya Home Collection, you can compare the effects of market volatilities on G Bits and Suofeiya Home 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 Suofeiya Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Suofeiya Home.
Diversification Opportunities for G Bits and Suofeiya Home
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 603444 and Suofeiya is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Suofeiya Home Collection in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suofeiya Home Collection 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 Suofeiya Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suofeiya Home Collection has no effect on the direction of G Bits i.e., G Bits and Suofeiya Home go up and down completely randomly.
Pair Corralation between G Bits and Suofeiya Home
Assuming the 90 days trading horizon G Bits is expected to generate 1.81 times less return on investment than Suofeiya Home. But when comparing it to its historical volatility, G bits Network Technology is 1.01 times less risky than Suofeiya Home. It trades about 0.07 of its potential returns per unit of risk. Suofeiya Home Collection is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,316 in Suofeiya Home Collection on August 28, 2024 and sell it today you would earn a total of 329.00 from holding Suofeiya Home Collection or generate 25.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Suofeiya Home Collection
Performance |
| Timeline |
| G bits Network |
| Suofeiya Home Collection |
G Bits and Suofeiya Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Suofeiya Home
The main advantage of trading using opposite G Bits and Suofeiya Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Suofeiya Home 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 Suofeiya Home will offset losses from the drop in Suofeiya Home's long position.| G Bits vs. Fujian Longzhou Transportation | G Bits vs. Sportsoul Co Ltd | G Bits vs. CIMC Vehicles Co | G Bits vs. Eastern Air Logistics |
| Suofeiya Home vs. China Petroleum Chemical | Suofeiya Home vs. PetroChina Co Ltd | Suofeiya Home vs. China State Construction | Suofeiya Home vs. China Railway Group |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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