Ping An Correlations

PASW Stock

0.15 0.01 6.25%

The current 90-days correlation between Ping An Biomedical and Primega Group Holdings is -0.08 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ping An Correlation With Market

Excellent diversification

The correlation between Ping An Biomedical and DJI is -0.67 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Biomedical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ping Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ping An Biomedical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Ping Stock

0.75	JL	J Long Group	Pair Corr
0.75	HEAD	Headlam Group	Pair Corr
0.65	JEM	707 Cayman Holdings	Pair Corr
0.67	RCT	RedCloud Holdings plc	Pair Corr
0.77	GNLN	Greenlane Holdings	Pair Corr
0.68	PLBL	Polibeli Group	Pair Corr
0.82	SORA	Top Win International Symbol Change	Pair Corr

Moving against Ping Stock

0.91	RAY	Raytech Holding	Pair Corr
0.85	LKQ	LKQ Corporation	Pair Corr
0.79	FNKO	Funko Inc Earnings Call This Week	Pair Corr
0.79	INCH	Inchcape PLC Earnings Call This Week	Pair Corr
0.77	SNL	Supply Network	Pair Corr
0.7	EDUC	Educational Development	Pair Corr
0.32	GPC	Genuine Parts	Pair Corr
0.82	BRIA	BrilliA	Pair Corr
0.82	UEC	Uranium Energy Corp	Pair Corr
0.8	BRK-B	Berkshire Hathaway Earnings Call Today	Pair Corr
0.76	PSA-PS	Public Storage	Pair Corr
0.69	HYMTF	Hyundai Motor	Pair Corr
0.68	WTFC	Wintrust Financial Downward Rally	Pair Corr
0.64	PSPSF	PSP Swiss Property	Pair Corr
0.57	LYV	Live Nation Entertainment	Pair Corr
0.54	ASTLW	Algoma Steel Group	Pair Corr
0.48	EXC	Exelon	Pair Corr
0.45	POOL	Pool	Pair Corr
0.34	AGCC	Agencia Comercial Spirits	Pair Corr

Related Correlations Analysis

	LBGJ	PSIG	ZDAI	OFAL	TLIH	ARTW	GRNQ	INLF	VRME	LSH
LBGJ		0.38	0.32	-0.38	-0.12	0.27	0.02	-0.17	0.46	-0.32	LBGJ
PSIG	0.38		0.01	-0.45	-0.35	0.25	0.08	-0.33	0.3	-0.64	PSIG
ZDAI	0.32	0.01		-0.42	0.04	0.45	0.49	0.03	0.66	0.33	ZDAI
OFAL	-0.38	-0.45	-0.42		-0.06	-0.31	-0.53	0.28	-0.78	-0.05	OFAL
TLIH	-0.12	-0.35	0.04	-0.06		0.3	-0.01	0.13	0.24	0.27	TLIH
ARTW	0.27	0.25	0.45	-0.31	0.3		0.31	0.04	0.45	0.12	ARTW
GRNQ	0.02	0.08	0.49	-0.53	-0.01	0.31		-0.01	0.44	0.36	GRNQ
INLF	-0.17	-0.33	0.03	0.28	0.13	0.04	-0.01		-0.24	0.1	INLF
VRME	0.46	0.3	0.66	-0.78	0.24	0.45	0.44	-0.24		0.13	VRME
LSH	-0.32	-0.64	0.33	-0.05	0.27	0.12	0.36	0.1	0.13		LSH
	LBGJ	PSIG	ZDAI	OFAL	TLIH	ARTW	GRNQ	INLF	VRME	LSH

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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

VRME	+ 0.66	ZDAI
GRNQ	+ 0.49	ZDAI
VRME	+ 0.46	LBGJ
ARTW	+ 0.45	ZDAI
VRME	+ 0.45	ARTW
VRME	+ 0.44	GRNQ

High negative correlations

VRME	- 0.78	OFAL
LSH	- 0.64	PSIG
GRNQ	- 0.53	OFAL
OFAL	- 0.45	PSIG
OFAL	- 0.42	ZDAI
OFAL	- 0.38	LBGJ

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
LBGJ	5.39	(0.66)	0.00	(0.23)	0.00	0.00	15.49	(7.81)	32.34
PSIG	3.39	0.94	0.22	(2.92)	2.80	(4.31)	11.58	(4.92)	44.89
ZDAI	7.64	0.08	(0.01)	(0.02)	8.61	(9.36)	19.76	(14.79)	60.87
OFAL	5.26	(0.26)	0.00	(0.48)	0.00	0.00	10.61	(11.11)	31.50
TLIH	5.45	0.17	0.06	0.12	5.74	(7.99)	12.50	(10.26)	50.96
ARTW	2.28	0.11	0.03	0.16	3.73	(2.51)	5.94	(5.22)	24.58
GRNQ	2.77	(0.01)	0.00	0.14	0.00	0.00	6.88	(5.03)	14.80
INLF	10.33	2.98	0.18	(0.60)	10.44	(23.83)	9.09	(8.93)	353.50
VRME	5.28	0.57	0.15	0.22	4.52	(7.60)	12.24	(8.15)	68.37
LSH	5.57	(0.16)	0.00	(1.17)	0.00	0.00	11.76	(13.33)	58.71

Ping An Corporate Executives

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.

	Sek Ko	CoFounder GM	Profile
	Yuk Li	CoFounder Board	Profile

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