Correlation Between G Bits and KSEC Intelligent
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By analyzing existing cross correlation between G bits Network Technology and KSEC Intelligent Technology, you can compare the effects of market volatilities on G Bits and KSEC Intelligent 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 KSEC Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and KSEC Intelligent.
Diversification Opportunities for G Bits and KSEC Intelligent
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 603444 and KSEC is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and KSEC Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KSEC Intelligent Tec 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 KSEC Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KSEC Intelligent Tec has no effect on the direction of G Bits i.e., G Bits and KSEC Intelligent go up and down completely randomly.
Pair Corralation between G Bits and KSEC Intelligent
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 1.34 times more return on investment than KSEC Intelligent. However, G Bits is 1.34 times more volatile than KSEC Intelligent Technology. It trades about 0.24 of its potential returns per unit of risk. KSEC Intelligent Technology is currently generating about -0.09 per unit of risk. If you would invest 19,835 in G bits Network Technology on September 26, 2024 and sell it today you would earn a total of 2,492 from holding G bits Network Technology or generate 12.56% 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. KSEC Intelligent Technology
Performance |
Timeline |
G bits Network |
KSEC Intelligent Tec |
G Bits and KSEC Intelligent Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with G Bits and KSEC Intelligent
The main advantage of trading using opposite G Bits and KSEC Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, KSEC Intelligent 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 KSEC Intelligent will offset losses from the drop in KSEC Intelligent's long position.G Bits vs. Shengda Mining Co | G Bits vs. Tianjin Pengling Rubber | G Bits vs. Tibet Huayu Mining | G Bits vs. Jiangxi Naipu Mining |
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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