Correlation Between G-bits Network and Postal Savings
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By analyzing existing cross correlation between G bits Network Technology and Postal Savings Bank, you can compare the effects of market volatilities on G-bits Network and Postal Savings 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 Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of G-bits Network and Postal Savings.
Diversification Opportunities for G-bits Network and Postal Savings
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between G-bits and Postal is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank 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 Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of G-bits Network i.e., G-bits Network and Postal Savings go up and down completely randomly.
Pair Corralation between G-bits Network and Postal Savings
Assuming the 90 days trading horizon G bits Network Technology is expected to under-perform the Postal Savings. In addition to that, G-bits Network is 2.07 times more volatile than Postal Savings Bank. It trades about -0.03 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.04 per unit of volatility. If you would invest 462.00 in Postal Savings Bank on September 1, 2024 and sell it today you would earn a total of 68.00 from holding Postal Savings Bank or generate 14.72% 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. Postal Savings Bank
Performance |
| Timeline |
| G bits Network |
| Postal Savings Bank |
G-bits Network and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G-bits Network and Postal Savings
The main advantage of trading using opposite G-bits Network and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G-bits Network position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' 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 |
| Postal Savings vs. Cultural Investment Holdings | Postal Savings vs. Bus Online Co | Postal Savings vs. Holitech Technology Co | Postal Savings vs. Zotye Automobile 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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