Correlation Between G Bits and Duzhe Publishing
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By analyzing existing cross correlation between G bits Network Technology and Duzhe Publishing Media, you can compare the effects of market volatilities on G Bits and Duzhe Publishing 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 Duzhe Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Duzhe Publishing.
Diversification Opportunities for G Bits and Duzhe Publishing
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between 603444 and Duzhe is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Duzhe Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duzhe Publishing Media 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 Duzhe Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duzhe Publishing Media has no effect on the direction of G Bits i.e., G Bits and Duzhe Publishing go up and down completely randomly.
Pair Corralation between G Bits and Duzhe Publishing
Assuming the 90 days trading horizon G Bits is expected to generate 3.1 times less return on investment than Duzhe Publishing. But when comparing it to its historical volatility, G bits Network Technology is 1.26 times less risky than Duzhe Publishing. It trades about 0.1 of its potential returns per unit of risk. Duzhe Publishing Media is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 597.00 in Duzhe Publishing Media on September 13, 2024 and sell it today you would earn a total of 104.00 from holding Duzhe Publishing Media or generate 17.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
G bits Network Technology vs. Duzhe Publishing Media
Performance |
| Timeline |
| G bits Network |
| Duzhe Publishing Media |
G Bits and Duzhe Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Duzhe Publishing
The main advantage of trading using opposite G Bits and Duzhe Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Duzhe Publishing 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 Duzhe Publishing will offset losses from the drop in Duzhe Publishing'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 |
| Duzhe Publishing vs. Ming Yang Smart | Duzhe Publishing vs. 159681 | Duzhe Publishing vs. 159005 | Duzhe Publishing vs. Loctek Ergonomic 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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