Correlation Between G Bits and China Satellite
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By analyzing existing cross correlation between G bits Network Technology and China Satellite Communications, you can compare the effects of market volatilities on G Bits and China Satellite 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 China Satellite. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and China Satellite.
Diversification Opportunities for G Bits and China Satellite
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between 603444 and China is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and China Satellite Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Satellite Comm 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 China Satellite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Satellite Comm has no effect on the direction of G Bits i.e., G Bits and China Satellite go up and down completely randomly.
Pair Corralation between G Bits and China Satellite
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 0.48 times more return on investment than China Satellite. However, G bits Network Technology is 2.08 times less risky than China Satellite. It trades about 0.1 of its potential returns per unit of risk. China Satellite Communications is currently generating about -0.07 per unit of risk. If you would invest 21,366 in G bits Network Technology on September 13, 2024 and sell it today you would earn a total of 1,062 from holding G bits Network Technology or generate 4.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. China Satellite Communications
Performance |
| Timeline |
| G bits Network |
| China Satellite Comm |
G Bits and China Satellite Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and China Satellite
The main advantage of trading using opposite G Bits and China Satellite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, China Satellite 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 China Satellite will offset losses from the drop in China Satellite's long position.| G Bits vs. Hunan Investment Group | G Bits vs. CICC Fund Management | G Bits vs. Zhejiang Construction Investment | G Bits vs. Vanfund Urban Investment |
| China Satellite vs. Industrial and Commercial | China Satellite vs. China Construction Bank | China Satellite vs. Agricultural Bank of | China Satellite vs. Bank of China |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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