Ping An Correlations
| 601318 Stock | 53.03 2.46 4.43% |
The current 90-days correlation between Ping An Insurance and Ming Yang Smart is 0.63 (i.e., Poor diversification). The correlation of Ping An 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.
Ping An Correlation With Market
Very good diversification
The correlation between Ping An Insurance and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and DJI in the same portfolio, assuming nothing else is changed.
Ping |
The ability to find closely correlated positions to Ping An could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ping An 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 Ping An - 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 Ping An Insurance to buy it.
Moving together with Ping Stock
| 0.94 | 688525 | Biwin Storage Technology | PairCorr |
| 0.96 | 600036 | China Merchants Bank | PairCorr |
| 0.96 | 301236 | iSoftStone Information | PairCorr |
| 0.83 | 002295 | Guangdong Jingyi Metal | PairCorr |
| 0.93 | 688137 | Suzhou Novoprotein | PairCorr |
| 0.96 | 300818 | Jiangxi Naipu Mining | PairCorr |
| 0.87 | 000678 | Xiangyang Automobile | PairCorr |
| 0.88 | 000688 | Guocheng Mining | PairCorr |
| 0.96 | 002268 | Westone Information | PairCorr |
| 0.92 | 600488 | Tianjin Tianyao Phar | PairCorr |
| 0.86 | 300033 | Hithink RoyalFlush Info | PairCorr |
| 0.91 | 300364 | COL Digital Publishing | PairCorr |
| 0.84 | 601933 | Yonghui Superstores | PairCorr |
| 0.97 | 002594 | BYD Co | PairCorr |
| 0.82 | 000553 | ADAMA | PairCorr |
| 0.9 | 000516 | Xian International | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ping Stock performing well and Ping An 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 Ping An's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 601615 | 2.43 | 0.48 | 0.12 | (1.54) | 2.45 | 7.35 | 18.14 | |||
| 159681 | 2.88 | 0.74 | 0.11 | (0.86) | 2.93 | 8.99 | 36.32 | |||
| 159005 | 0.01 | 0.00 | 0.00 | 0.46 | 0.00 | 0.01 | 0.14 | |||
| 300729 | 1.96 | 0.36 | 0.07 | (0.96) | 2.77 | 6.27 | 24.80 | |||
| 516220 | 1.60 | 0.33 | 0.05 | (0.51) | 1.63 | 5.26 | 17.74 | |||
| 002096 | 2.17 | 0.09 | (0.02) | (1.20) | 2.59 | 4.30 | 13.27 | |||
| 300243 | 3.00 | 0.77 | 0.17 | (7.22) | 3.08 | 10.41 | 26.79 | |||
| 603269 | 2.49 | 0.39 | 0.07 | (0.52) | 2.57 | 5.98 | 16.65 | |||
| 300049 | 3.28 | (0.15) | 0.00 | 0.79 | 0.00 | 7.57 | 28.09 | |||
| 600895 | 3.37 | 0.74 | 0.18 | 1.19 | 3.13 | 10.01 | 19.00 |
Be your own money manager
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Ping An Corporate Management
Elected by the shareholders, the Ping An's board of directors comprises two types of representatives: Ping An inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ping. The board's role is to monitor Ping An's management team and ensure that shareholders' interests are well served. Ping An's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ping An's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Xiaolu Zhang | Compliance Compliance | Profile | |
| Benjamin Deng | Assistant Officer | Profile | |
| Mingzhe Ma | Founder Chairman | Profile | |
| Ruisheng Sheng | Company Directors | Profile |