Correlation Between Jiahe Foods and G Bits
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiahe Foods Industry and G bits Network Technology, you can compare the effects of market volatilities on Jiahe Foods 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 Jiahe Foods with a short position of G Bits. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiahe Foods and G Bits.
Diversification Opportunities for Jiahe Foods and G Bits
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jiahe and 603444 is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry 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 Jiahe Foods 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 Jiahe Foods Industry 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 Jiahe Foods i.e., Jiahe Foods and G Bits go up and down completely randomly.
Pair Corralation between Jiahe Foods and G Bits
Assuming the 90 days trading horizon Jiahe Foods Industry is expected to generate 0.92 times more return on investment than G Bits. However, Jiahe Foods Industry 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 1,636 in Jiahe Foods Industry on September 28, 2024 and sell it today you would lose (296.00) from holding Jiahe Foods Industry or give up 18.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Jiahe Foods Industry vs. G bits Network Technology
Performance |
| Timeline |
| Jiahe Foods Industry |
| G bits Network |
Jiahe Foods and G Bits Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiahe Foods and G Bits
The main advantage of trading using opposite Jiahe Foods and G Bits positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiahe Foods 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.| Jiahe Foods vs. Ming Yang Smart | Jiahe Foods vs. 159681 | Jiahe Foods vs. 159005 | Jiahe Foods 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |