Correlation Between G Bits and Flat Glass
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By analyzing existing cross correlation between G bits Network Technology and Flat Glass Group, you can compare the effects of market volatilities on G Bits and Flat Glass 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 Flat Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and Flat Glass.
Diversification Opportunities for G Bits and Flat Glass
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 603444 and Flat is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and Flat Glass Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flat Glass Group 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 Flat Glass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flat Glass Group has no effect on the direction of G Bits i.e., G Bits and Flat Glass go up and down completely randomly.
Pair Corralation between G Bits and Flat Glass
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 1.15 times more return on investment than Flat Glass. However, G Bits is 1.15 times more volatile than Flat Glass Group. It trades about 0.24 of its potential returns per unit of risk. Flat Glass Group is currently generating about -0.32 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 Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
G bits Network Technology vs. Flat Glass Group
Performance |
Timeline |
G bits Network |
Flat Glass Group |
G Bits and Flat Glass Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with G Bits and Flat Glass
The main advantage of trading using opposite G Bits and Flat Glass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, Flat Glass 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 Flat Glass will offset losses from the drop in Flat Glass' 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 |
Flat Glass vs. Kweichow Moutai Co | Flat Glass vs. Contemporary Amperex Technology | Flat Glass vs. G bits Network Technology | Flat Glass 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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