Correlation Between G Bits and Cinda Securities
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By analyzing existing cross correlation between G bits Network Technology and Cinda Securities Co, you can compare the effects of market volatilities on G Bits and Cinda Securities 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 Cinda Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Cinda Securities.
Diversification Opportunities for G Bits and Cinda Securities
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 603444 and Cinda is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Cinda Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinda Securities 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 Cinda Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinda Securities has no effect on the direction of G Bits i.e., G Bits and Cinda Securities go up and down completely randomly.
Pair Corralation between G Bits and Cinda Securities
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Cinda Securities. In addition to that, G Bits is 1.03 times more volatile than Cinda Securities Co. It trades about -0.06 of its total potential returns per unit of risk. Cinda Securities Co is currently generating about -0.01 per unit of volatility. If you would invest 1,817 in Cinda Securities Co on August 29, 2024 and sell it today you would lose (315.00) from holding Cinda Securities Co or give up 17.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Cinda Securities Co
Performance |
| Timeline |
| G bits Network |
| Cinda Securities |
G Bits and Cinda Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Cinda Securities
The main advantage of trading using opposite G Bits and Cinda Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Cinda Securities 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 Cinda Securities will offset losses from the drop in Cinda Securities' long position.| G Bits vs. Rising Nonferrous Metals | G Bits vs. Suofeiya Home Collection | G Bits vs. Ye Chiu Metal | G Bits vs. Hengli Industrial Development |
| Cinda Securities vs. Kweichow Moutai Co | Cinda Securities vs. Contemporary Amperex Technology | Cinda Securities vs. G bits Network Technology | Cinda Securities vs. BYD Co Ltd |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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