G Bits Correlations

603444 Stock

431.17 7.29 1.66%

The current 90-days correlation between G bits Network and Hang Xiao Steel is -0.12 (i.e., Good diversification). The correlation of G Bits is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

G Bits Correlation With Market

Average diversification

The correlation between G bits Network Technology and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding G bits Network Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to G Bits could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace G Bits when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back G Bits - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling G bits Network Technology to buy it.

Moving together with 603444 Stock

0.65	002371	NAURA Technology	Pair Corr
0.72	688041	Hygon Information	Pair Corr
0.86	002335	Xiamen Kehua Hengsheng	Pair Corr

Moving against 603444 Stock

0.52	000692	Shenyang Huitian Thermal	Pair Corr
0.51	600971	Anhui Hengyuan Coal	Pair Corr
0.48	300626	Huarui Electrical	Pair Corr
0.48	000663	Fujian Yongan Forestry	Pair Corr
0.43	300268	Joyvio Agriculture	Pair Corr
0.42	001286	Shaanxi Energy Investment	Pair Corr
0.4	002910	Lanzhou Zhuangyuan	Pair Corr
0.39	600177	Youngor Group	Pair Corr
0.36	000665	Hubei Radio	Pair Corr
0.31	000695	Tianjin Binhai Energy	Pair Corr

Related Correlations Analysis

	600019	600683	300867	508077	688021	300786	600477	600110
600019		0.73	0.66	-0.67	0.75	0.12	0.66	0.16	600019
600683	0.73		0.64	-0.75	0.7	-0.06	0.63	0.17	600683
300867	0.66	0.64		-0.68	0.46	0.47	0.54	-0.12	300867
508077	-0.67	-0.75	-0.68		-0.5	-0.08	-0.6	-0.08	508077
688021	0.75	0.7	0.46	-0.5		-0.26	0.63	0.43	688021
300786	0.12	-0.06	0.47	-0.08	-0.26		-0.06	-0.47	300786
600477	0.66	0.63	0.54	-0.6	0.63	-0.06		0.4	600477
600110	0.16	0.17	-0.12	-0.08	0.43	-0.47	0.4		600110
	600019	600683	300867	508077	688021	300786	600477	600110

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

688021	+ 0.75	600019
600683	+ 0.73	600019
688021	+ 0.7	600683
300867	+ 0.66	600019
600477	+ 0.66	600019
300867	+ 0.64	600683

High negative correlations

508077	- 0.75	600683
508077	- 0.68	300867
508077	- 0.67	600019
600477	- 0.6	508077
688021	- 0.5	508077
600110	- 0.47	300786

Risk-Adjusted Indicators

There is a big difference between 603444 Stock performing well and G Bits Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze G Bits' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
600019	0.99	0.06	0.02	(0.17)	1.07	(1.15)	2.50	(1.84)	5.50
600683	2.23	0.26	0.06	(0.36)	3.11	(2.23)	5.59	(4.56)	19.97
300867	1.91	0.34	0.16	(0.73)	1.62	(2.42)	3.85	(3.30)	15.21
508077	0.70	(0.24)	0.00	63.89	0.00	0.00	1.49	(1.59)	5.54
688021	1.48	0.04	0.01	0.31	1.92	(1.50)	3.00	(3.30)	13.76
300786	2.73	0.15	0.03	0.80	3.58	(2.73)	5.28	(5.18)	29.62
600477	1.19	0.15	0.07	0.70	1.36	(1.39)	2.30	(2.24)	13.56
600110	2.94	0.35	0.10	0.38	3.07	(3.23)	7.31	(3.91)	18.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in G Bits without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Bond Analysis Now

Bond Analysis

Evaluate and analyze corporate bonds as a potential investment for your portfolios.

All Next

Launch Module

G Bits Corporate Executives

Elected by the shareholders, the G Bits' board of directors comprises two types of representatives: G Bits inside directors who are chosen from within the company, and outside directors, selected externally and held independent of 603444. The board's role is to monitor G Bits' management team and ensure that shareholders' interests are well served. G Bits' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, G Bits' outside directors are responsible for providing unbiased perspectives on the board's policies.

Jiajin Lin

Deputy CFO

Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC