Correlation Between G-bits Network and Jiangxi Lianchuang
Specify exactly 2 symbols:
By analyzing existing cross correlation between G bits Network Technology and Jiangxi Lianchuang Opto electronic, you can compare the effects of market volatilities on G-bits Network and Jiangxi Lianchuang 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 Jiangxi Lianchuang. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Jiangxi Lianchuang.
Diversification Opportunities for G-bits Network and Jiangxi Lianchuang
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between G-bits and Jiangxi is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Jiangxi Lianchuang Opto electr in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangxi Lianchuang Opto 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 Jiangxi Lianchuang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangxi Lianchuang Opto has no effect on the direction of G-bits Network i.e., G-bits Network and Jiangxi Lianchuang go up and down completely randomly.
Pair Corralation between G-bits Network and Jiangxi Lianchuang
Assuming the 90 days trading horizon G-bits Network is expected to generate 11.97 times less return on investment than Jiangxi Lianchuang. But when comparing it to its historical volatility, G bits Network Technology is 1.52 times less risky than Jiangxi Lianchuang. It trades about 0.02 of its potential returns per unit of risk. Jiangxi Lianchuang Opto electronic is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 5,001 in Jiangxi Lianchuang Opto electronic on December 8, 2024 and sell it today you would earn a total of 538.00 from holding Jiangxi Lianchuang Opto electronic or generate 10.76% 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. Jiangxi Lianchuang Opto electr
Performance |
| Timeline |
| G bits Network |
| Jiangxi Lianchuang Opto |
G-bits Network and Jiangxi Lianchuang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Jiangxi Lianchuang
The main advantage of trading using opposite G-bits Network and Jiangxi Lianchuang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Jiangxi Lianchuang 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 Jiangxi Lianchuang will offset losses from the drop in Jiangxi Lianchuang's long position.| G-bits Network vs. Juneyao Airlines | ||
| G-bits Network vs. Xinya Electronic Co | ||
| G-bits Network vs. Healthcare Co | ||
| G-bits Network vs. Camelot Electronics Technology |
| Jiangxi Lianchuang vs. HaiXin Foods Co | ||
| Jiangxi Lianchuang vs. Guilin Seamild Foods | ||
| Jiangxi Lianchuang vs. Great Sun Foods Co | ||
| Jiangxi Lianchuang vs. Xiwang Foodstuffs Co |
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.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |