Correlation Between G-bits Network and Jiangsu Financial
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By analyzing existing cross correlation between G bits Network Technology and Jiangsu Financial Leasing, you can compare the effects of market volatilities on G-bits Network and Jiangsu 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 Network with a short position of Jiangsu Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Jiangsu Financial.
Diversification Opportunities for G-bits Network and Jiangsu Financial
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between G-bits and Jiangsu is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Jiangsu Financial Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Financial Leasing 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 Jiangsu Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Financial Leasing has no effect on the direction of G-bits Network i.e., G-bits Network and Jiangsu Financial go up and down completely randomly.
Pair Corralation between G-bits Network and Jiangsu Financial
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Jiangsu Financial. In addition to that, G-bits Network is 1.7 times more volatile than Jiangsu Financial Leasing. It trades about -0.07 of its total potential returns per unit of risk. Jiangsu Financial Leasing is currently generating about 0.04 per unit of volatility. If you would invest 417.00 in Jiangsu Financial Leasing on August 31, 2024 and sell it today you would earn a total of 89.00 from holding Jiangsu Financial Leasing or generate 21.34% 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. Jiangsu Financial Leasing
Performance |
| Timeline |
| G bits Network |
| Jiangsu Financial Leasing |
G-bits Network and Jiangsu Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Jiangsu Financial
The main advantage of trading using opposite G-bits Network and Jiangsu Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Jiangsu 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 Jiangsu Financial will offset losses from the drop in Jiangsu Financial's long position.| G-bits Network vs. Heren Health Co | G-bits Network vs. Tongyu Communication | G-bits Network vs. Allwin Telecommunication Co | G-bits Network vs. Wuhan Yangtze Communication |
| Jiangsu Financial vs. Agricultural Bank of | Jiangsu Financial vs. Hangzhou Pinming Software | Jiangsu Financial vs. Shandong Mining Machinery | Jiangsu Financial vs. GuoChuang Software 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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