Correlation Between G Bits and Shenzhen Clou
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By analyzing existing cross correlation between G bits Network Technology and Shenzhen Clou Electronics, you can compare the effects of market volatilities on G Bits and Shenzhen Clou 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 Shenzhen Clou. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Shenzhen Clou.
Diversification Opportunities for G Bits and Shenzhen Clou
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 603444 and Shenzhen is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Shenzhen Clou Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Clou Electronics 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 Shenzhen Clou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Clou Electronics has no effect on the direction of G Bits i.e., G Bits and Shenzhen Clou go up and down completely randomly.
Pair Corralation between G Bits and Shenzhen Clou
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 0.61 times more return on investment than Shenzhen Clou. However, G bits Network Technology is 1.63 times less risky than Shenzhen Clou. It trades about 0.23 of its potential returns per unit of risk. Shenzhen Clou Electronics is currently generating about 0.04 per unit of risk. If you would invest 19,835 in G bits Network Technology on September 25, 2024 and sell it today you would earn a total of 2,314 from holding G bits Network Technology or generate 11.67% 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. Shenzhen Clou Electronics
Performance |
Timeline |
G bits Network |
Shenzhen Clou Electronics |
G Bits and Shenzhen Clou Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with G Bits and Shenzhen Clou
The main advantage of trading using opposite G Bits and Shenzhen Clou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Shenzhen Clou 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 Shenzhen Clou will offset losses from the drop in Shenzhen Clou's long position.G Bits vs. Metro Investment Development | G Bits vs. Focus Media Information | G Bits vs. Hangzhou Gisway Information | G Bits vs. Shenzhen SDG Information |
Shenzhen Clou vs. Kweichow Moutai Co | Shenzhen Clou vs. Contemporary Amperex Technology | Shenzhen Clou vs. G bits Network Technology | Shenzhen Clou vs. BYD Co Ltd |
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 Stocks Directory module to find actively traded stocks across global markets.
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