Correlation Between G Bits and Panda Financial
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By analyzing existing cross correlation between G bits Network Technology and Panda Financial Holding, you can compare the effects of market volatilities on G Bits and Panda Financial 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 Panda Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Panda Financial.
Diversification Opportunities for G Bits and Panda Financial
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 603444 and Panda is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Panda Financial Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Panda Financial Holding 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 Panda Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Panda Financial Holding has no effect on the direction of G Bits i.e., G Bits and Panda Financial go up and down completely randomly.
Pair Corralation between G Bits and Panda Financial
Assuming the 90 days trading horizon G Bits is expected to generate 1.65 times less return on investment than Panda Financial. In addition to that, G Bits is 1.02 times more volatile than Panda Financial Holding. It trades about 0.05 of its total potential returns per unit of risk. Panda Financial Holding is currently generating about 0.08 per unit of volatility. If you would invest 1,131 in Panda Financial Holding on September 3, 2024 and sell it today you would earn a total of 386.00 from holding Panda Financial Holding or generate 34.13% 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. Panda Financial Holding
Performance |
| Timeline |
| G bits Network |
| Panda Financial Holding |
G Bits and Panda Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Panda Financial
The main advantage of trading using opposite G Bits and Panda Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Panda Financial 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 Panda Financial will offset losses from the drop in Panda Financial's long position.| G Bits vs. Duzhe Publishing Media | G Bits vs. JiShi Media Co | G Bits vs. Beijing Yanjing Brewery | G Bits vs. Integrated Electronic Systems |
| Panda Financial vs. Chongqing Road Bridge | Panda Financial vs. Wuhan Xianglong Power | Panda Financial vs. Empyrean Technology Co | Panda Financial vs. Yuanjie Semiconductor 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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