Correlation Between G Bits and Kuang Chi
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By analyzing existing cross correlation between G bits Network Technology and Kuang Chi Technologies, you can compare the effects of market volatilities on G Bits and Kuang Chi 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 Kuang Chi. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Kuang Chi.
Diversification Opportunities for G Bits and Kuang Chi
Modest diversification
The 3 months correlation between 603444 and Kuang is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Kuang Chi Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuang Chi Technologies 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 Kuang Chi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuang Chi Technologies has no effect on the direction of G Bits i.e., G Bits and Kuang Chi go up and down completely randomly.
Pair Corralation between G Bits and Kuang Chi
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Kuang Chi. But the stock apears to be less risky and, when comparing its historical volatility, G bits Network Technology is 1.01 times less risky than Kuang Chi. The stock trades about -0.01 of its potential returns per unit of risk. The Kuang Chi Technologies is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 1,613 in Kuang Chi Technologies on September 13, 2024 and sell it today you would earn a total of 2,530 from holding Kuang Chi Technologies or generate 156.85% 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. Kuang Chi Technologies
Performance |
| Timeline |
| G bits Network |
| Kuang Chi Technologies |
G Bits and Kuang Chi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Kuang Chi
The main advantage of trading using opposite G Bits and Kuang Chi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Kuang Chi 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 Kuang Chi will offset losses from the drop in Kuang Chi's long position.| G Bits vs. Hunan Investment Group | G Bits vs. CICC Fund Management | G Bits vs. Zhejiang Construction Investment | G Bits vs. Vanfund Urban Investment |
| Kuang Chi vs. BeiGene | Kuang Chi vs. Kweichow Moutai Co | Kuang Chi vs. Beijing Roborock Technology | Kuang Chi 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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