Correlation Between Goke Microelectronics and Industrial Bank
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By analyzing existing cross correlation between Goke Microelectronics Co and Industrial Bank Co, you can compare the effects of market volatilities on Goke Microelectronics and Industrial Bank 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 Goke Microelectronics with a short position of Industrial Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Goke Microelectronics and Industrial Bank.
Diversification Opportunities for Goke Microelectronics and Industrial Bank
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Goke and Industrial is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Goke Microelectronics Co and Industrial Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Industrial Bank and Goke Microelectronics 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 Goke Microelectronics Co are associated (or correlated) with Industrial Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial Bank has no effect on the direction of Goke Microelectronics i.e., Goke Microelectronics and Industrial Bank go up and down completely randomly.
Pair Corralation between Goke Microelectronics and Industrial Bank
Assuming the 90 days trading horizon Goke Microelectronics Co is expected to generate 3.48 times more return on investment than Industrial Bank. However, Goke Microelectronics is 3.48 times more volatile than Industrial Bank Co. It trades about 0.08 of its potential returns per unit of risk. Industrial Bank Co is currently generating about -0.04 per unit of risk. If you would invest 8,513 in Goke Microelectronics Co on September 6, 2025 and sell it today you would earn a total of 1,291 from holding Goke Microelectronics Co or generate 15.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Goke Microelectronics Co vs. Industrial Bank Co
Performance |
| Timeline |
| Goke Microelectronics |
| Industrial Bank |
Goke Microelectronics and Industrial Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Goke Microelectronics and Industrial Bank
The main advantage of trading using opposite Goke Microelectronics and Industrial Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Goke Microelectronics position performs unexpectedly, Industrial Bank 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 Industrial Bank will offset losses from the drop in Industrial Bank's long position.| Goke Microelectronics vs. Impulse Qingdao Health | Goke Microelectronics vs. Yinbang Clad Material | Goke Microelectronics vs. Wankai New Materials | Goke Microelectronics vs. Xinke Material |
| Industrial Bank vs. Luyin Investment Group | Industrial Bank vs. Linewell Software Co | Industrial Bank vs. China Asset Management | Industrial Bank vs. Shenzhen Centralcon Investment |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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