Correlation Between G-bits Network and Dongxing Sec
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By analyzing existing cross correlation between G bits Network Technology and Dongxing Sec Co, you can compare the effects of market volatilities on G-bits Network and Dongxing Sec 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 Dongxing Sec. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Dongxing Sec.
Diversification Opportunities for G-bits Network and Dongxing Sec
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between G-bits and Dongxing is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Dongxing Sec Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dongxing Sec 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 Dongxing Sec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dongxing Sec has no effect on the direction of G-bits Network i.e., G-bits Network and Dongxing Sec go up and down completely randomly.
Pair Corralation between G-bits Network and Dongxing Sec
Assuming the 90 days trading horizon G-bits Network is expected to generate 2.12 times less return on investment than Dongxing Sec. In addition to that, G-bits Network is 1.01 times more volatile than Dongxing Sec Co. It trades about 0.05 of its total potential returns per unit of risk. Dongxing Sec Co is currently generating about 0.1 per unit of volatility. If you would invest 829.00 in Dongxing Sec Co on September 1, 2024 and sell it today you would earn a total of 309.00 from holding Dongxing Sec Co or generate 37.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Dongxing Sec Co
Performance |
| Timeline |
| G bits Network |
| Dongxing Sec |
G-bits Network and Dongxing Sec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Dongxing Sec
The main advantage of trading using opposite G-bits Network and Dongxing Sec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Dongxing Sec 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 Dongxing Sec will offset losses from the drop in Dongxing Sec's long position.| G-bits Network vs. Beijing Sanyuan Foods | G-bits Network vs. Broadex Technologies Co | G-bits Network vs. Jiangsu Broadcasting Cable | G-bits Network vs. Shaanxi Broadcast TV |
| Dongxing Sec vs. BeiGene | Dongxing Sec vs. Kweichow Moutai Co | Dongxing Sec vs. Beijing Roborock Technology | Dongxing Sec vs. G bits Network 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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