Correlation Between G Bits and ROPEOK Technology
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By analyzing existing cross correlation between G bits Network Technology and ROPEOK Technology Group, you can compare the effects of market volatilities on G Bits and ROPEOK Technology 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 ROPEOK Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Bits and ROPEOK Technology.
Diversification Opportunities for G Bits and ROPEOK Technology
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 603444 and ROPEOK is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and ROPEOK Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ROPEOK Technology 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 ROPEOK Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ROPEOK Technology has no effect on the direction of G Bits i.e., G Bits and ROPEOK Technology go up and down completely randomly.
Pair Corralation between G Bits and ROPEOK Technology
Assuming the 90 days trading horizon G bits Network Technology is expected to generate 0.98 times more return on investment than ROPEOK Technology. However, G bits Network Technology is 1.02 times less risky than ROPEOK Technology. It trades about 0.22 of its potential returns per unit of risk. ROPEOK Technology Group is currently generating about 0.13 per unit of risk. If you would invest 19,835 in G bits Network Technology on September 24, 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 | 95.45% |
Values | Daily Returns |
G bits Network Technology vs. ROPEOK Technology Group
Performance |
Timeline |
G bits Network |
ROPEOK Technology |
G Bits and ROPEOK Technology Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with G Bits and ROPEOK Technology
The main advantage of trading using opposite G Bits and ROPEOK Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Bits position performs unexpectedly, ROPEOK Technology 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 ROPEOK Technology will offset losses from the drop in ROPEOK Technology's long position.G Bits vs. Changchun UP Optotech | G Bits vs. Ningxia Building Materials | G Bits vs. Guangzhou KingTeller Technology | G Bits vs. Kangping Technology Co |
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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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