Correlation Between G Bits and Suzhou Weizhixiang
Specify exactly 2 symbols:
By analyzing existing cross correlation between G bits Network Technology and Suzhou Weizhixiang Food, you can compare the effects of market volatilities on G Bits and Suzhou Weizhixiang 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 Suzhou Weizhixiang. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Suzhou Weizhixiang.
Diversification Opportunities for G Bits and Suzhou Weizhixiang
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 603444 and Suzhou is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Suzhou Weizhixiang Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Weizhixiang Food 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 Suzhou Weizhixiang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Weizhixiang Food has no effect on the direction of G Bits i.e., G Bits and Suzhou Weizhixiang go up and down completely randomly.
Pair Corralation between G Bits and Suzhou Weizhixiang
Assuming the 90 days trading horizon G Bits is expected to generate 1.34 times less return on investment than Suzhou Weizhixiang. But when comparing it to its historical volatility, G bits Network Technology is 1.9 times less risky than Suzhou Weizhixiang. It trades about 0.05 of its potential returns per unit of risk. Suzhou Weizhixiang Food is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,254 in Suzhou Weizhixiang Food on October 26, 2024 and sell it today you would earn a total of 74.00 from holding Suzhou Weizhixiang Food or generate 3.28% 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. Suzhou Weizhixiang Food
Performance |
| Timeline |
| G bits Network |
| Suzhou Weizhixiang Food |
G Bits and Suzhou Weizhixiang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Bits and Suzhou Weizhixiang
The main advantage of trading using opposite G Bits and Suzhou Weizhixiang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Suzhou Weizhixiang 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 Suzhou Weizhixiang will offset losses from the drop in Suzhou Weizhixiang's long position.| G Bits vs. Chongqing Brewery Co | G Bits vs. GigaDevice SemiconductorBeiji | G Bits vs. GRINM Semiconductor Materials | G Bits vs. Beijing Yanjing Brewery |
| Suzhou Weizhixiang vs. Kweichow Moutai Co | Suzhou Weizhixiang vs. Contemporary Amperex Technology | Suzhou Weizhixiang vs. G bits Network Technology | Suzhou Weizhixiang vs. Beijing Roborock 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |