Correlation Between Anji Foodstuff and G Bits
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By analyzing existing cross correlation between Anji Foodstuff Co and G bits Network Technology, you can compare the effects of market volatilities on Anji Foodstuff and G Bits 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 Anji Foodstuff with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and G Bits.
Diversification Opportunities for Anji Foodstuff and G Bits
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Anji and 603444 is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and G bits Network Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G bits Network and Anji Foodstuff 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 Anji Foodstuff Co are associated (or correlated) with G Bits. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G bits Network has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and G Bits go up and down completely randomly.
Pair Corralation between Anji Foodstuff and G Bits
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 0.93 times more return on investment than G Bits. However, Anji Foodstuff Co is 1.08 times less risky than G Bits. It trades about 0.0 of its potential returns per unit of risk. G bits Network Technology is currently generating about -0.02 per unit of risk. If you would invest 1,063 in Anji Foodstuff Co on September 28, 2024 and sell it today you would lose (207.00) from holding Anji Foodstuff Co or give up 19.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. G bits Network Technology
Performance |
| Timeline |
| Anji Foodstuff |
| G bits Network |
Anji Foodstuff and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and G Bits
The main advantage of trading using opposite Anji Foodstuff and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, G Bits 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 G Bits will offset losses from the drop in G Bits' long position.| Anji Foodstuff vs. Ming Yang Smart | Anji Foodstuff vs. 159681 | Anji Foodstuff vs. 159005 | Anji Foodstuff vs. Loctek Ergonomic Technology |
| G Bits vs. Jiahe Foods Industry | G Bits vs. Anji Foodstuff Co | G Bits vs. GigaDevice SemiconductorBeiji | G Bits vs. JuneYao Dairy 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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