Correlation Between G-bits Network and Lotus Health
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By analyzing existing cross correlation between G bits Network Technology and Lotus Health Group, you can compare the effects of market volatilities on G-bits Network and Lotus Health 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 Network with a short position of Lotus Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Lotus Health.
Diversification Opportunities for G-bits Network and Lotus Health
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between G-bits and Lotus is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Lotus Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lotus Health Group and G-bits Network 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 Lotus Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lotus Health Group has no effect on the direction of G-bits Network i.e., G-bits Network and Lotus Health go up and down completely randomly.
Pair Corralation between G-bits Network and Lotus Health
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Lotus Health. But the stock apears to be less risky and, when comparing its historical volatility, G bits Network Technology is 4.29 times less risky than Lotus Health. The stock trades about -0.02 of its potential returns per unit of risk. The Lotus Health Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 508.00 in Lotus Health Group on November 5, 2024 and sell it today you would lose (5.00) from holding Lotus Health Group or give up 0.98% of portfolio value 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. Lotus Health Group
Performance |
| Timeline |
| G bits Network |
| Lotus Health Group |
G-bits Network and Lotus Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Lotus Health
The main advantage of trading using opposite G-bits Network and Lotus Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Lotus Health 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 Lotus Health will offset losses from the drop in Lotus Health's long position.| G-bits Network vs. Nanjing Putian Telecommunications | G-bits Network vs. Jiamei Food Packaging | G-bits Network vs. JuneYao Dairy Co | G-bits Network vs. Jiahe Foods Industry |
| Lotus Health vs. Vohringer Home Technology | Lotus Health vs. Hongrun Construction Group | Lotus Health vs. Quectel Wireless Solutions | Lotus Health vs. Beijing Kingsoft Office |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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