Correlation Between G-bits Network and Kweichow Moutai
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By analyzing existing cross correlation between G bits Network Technology and Kweichow Moutai Co, you can compare the effects of market volatilities on G-bits Network and Kweichow Moutai 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 Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Kweichow Moutai.
Diversification Opportunities for G-bits Network and Kweichow Moutai
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between G-bits and Kweichow is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai 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 Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of G-bits Network i.e., G-bits Network and Kweichow Moutai go up and down completely randomly.
Pair Corralation between G-bits Network and Kweichow Moutai
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 1.8 times more return on investment than Kweichow Moutai. However, G-bits Network is 1.8 times more volatile than Kweichow Moutai Co. It trades about 0.48 of its potential returns per unit of risk. Kweichow Moutai Co is currently generating about 0.08 per unit of risk. If you would invest 20,761 in G bits Network Technology on November 18, 2024 and sell it today you would earn a total of 3,496 from holding G bits Network Technology or generate 16.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Kweichow Moutai Co
Performance |
| Timeline |
| G bits Network |
| Kweichow Moutai |
G-bits Network and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Kweichow Moutai
The main advantage of trading using opposite G-bits Network and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| G-bits Network vs. Harbin Hatou Investment | G-bits Network vs. Guizhou Chanhen Chemical | G-bits Network vs. Beijing Mainstreets Investment | G-bits Network vs. Cultural Investment Holdings |
| Kweichow Moutai vs. HaiXin Foods Co | Kweichow Moutai vs. Anji Foodstuff Co | Kweichow Moutai vs. Jiajia Food Group | Kweichow Moutai vs. New Hope Dairy |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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