Ping An Correlations

PNGAY Stock

USD 18.00 0.20 1.10%

The current 90-days correlation between Ping An Insurance and China Life Insurance is 0.39 (i.e., Weak 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

Very poor diversification

The correlation between Ping An Insurance and DJI is 0.89 (i.e., Very poor 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.

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 Pink Sheet

0.93	PIAIF	Ping An Insurance	Pair Corr
0.77	AAGIY	AIA Group	Pair Corr
0.68	AAIGF	AIA Group Downward Rally	Pair Corr
0.87	CILJF	China Life Insurance Downward Rally	Pair Corr
0.89	MFC	Manulife Financial Corp Earnings Call Tomorrow	Pair Corr
0.67	EC	Ecopetrol SA ADR	Pair Corr
0.79	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.65	WF	Woori Financial Group	Pair Corr
0.73	IDXG	Interpace Biosciences	Pair Corr
0.66	SGML	Sigma Lithium Resources	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.71	SJ	Scienjoy Holding Corp	Pair Corr
0.82	MDIBY	Mediobanca Banca	Pair Corr
0.87	C	Citigroup Sell-off Trend	Pair Corr
0.8	GLAPF	Glanbia plc	Pair Corr
0.71	PPCLY	PPC Ltd ADR	Pair Corr
0.74	PPTTF	Perpetual Limited	Pair Corr
0.61	281020AW7	EIX 695 15	Pair Corr
0.75	PILBF	Pilbara Minerals Earnings Call This Week	Pair Corr
0.85	SOUHY	South32 ADR	Pair Corr
0.68	AFRAF	Air France KLM Earnings Call This Week	Pair Corr

Moving against Ping Pink Sheet

0.72	VFSWW	VinFast Auto	Pair Corr
0.39	MBOT	Microbot Medical	Pair Corr

Related Correlations Analysis

	CILJF	AAGIY	AAIGF	BACHF	SAXPY	DBSDY	DBSDF	IITSF	AAMAF	BBVXF
CILJF		0.77	0.69	-0.06	-0.64	0.91	0.87	0.73	0.0	0.82	CILJF
AAGIY	0.77		0.87	-0.21	-0.31	0.8	0.72	0.76	0.0	0.73	AAGIY
AAIGF	0.69	0.87		-0.17	-0.33	0.74	0.68	0.69	0.0	0.69	AAIGF
BACHF	-0.06	-0.21	-0.17		-0.23	-0.21	-0.16	-0.2	0.0	-0.14	BACHF
SAXPY	-0.64	-0.31	-0.33	-0.23		-0.45	-0.44	-0.15	0.0	-0.33	SAXPY
DBSDY	0.91	0.8	0.74	-0.21	-0.45		0.91	0.84	0.0	0.91	DBSDY
DBSDF	0.87	0.72	0.68	-0.16	-0.44	0.91		0.73	0.0	0.85	DBSDF
IITSF	0.73	0.76	0.69	-0.2	-0.15	0.84	0.73		0.0	0.86	IITSF
AAMAF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AAMAF
BBVXF	0.82	0.73	0.69	-0.14	-0.33	0.91	0.85	0.86	0.0		BBVXF
	CILJF	AAGIY	AAIGF	BACHF	SAXPY	DBSDY	DBSDF	IITSF	AAMAF	BBVXF

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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

DBSDY	+ 0.91	CILJF
DBSDF	+ 0.91	DBSDY
BBVXF	+ 0.91	DBSDY
DBSDF	+ 0.87	CILJF
AAIGF	+ 0.87	AAGIY
BBVXF	+ 0.86	IITSF

High negative correlations

SAXPY	- 0.64	CILJF
DBSDY	- 0.45	SAXPY
DBSDF	- 0.44	SAXPY
BBVXF	- 0.33	SAXPY
SAXPY	- 0.33	AAIGF
SAXPY	- 0.31	AAGIY

Risk-Adjusted Indicators

There is a big difference between Ping Pink Sheet 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
CILJF	2.58	0.34	0.10	5.76	2.73	(3.11)	5.78	(4.35)	13.26
AAGIY	1.18	(0.08)	0.00	(0.05)	0.00	0.00	3.04	(2.72)	8.14
AAIGF	2.26	(0.04)	0.00	(0.03)	0.00	0.00	4.40	(5.17)	11.58
BACHF	2.03	0.07	0.00	(0.19)	2.91	(4.25)	7.27	(5.17)	20.39
SAXPY	0.75	(0.13)	0.00	(0.22)	0.00	0.00	1.17	(3.23)	6.69
DBSDY	0.65	0.11	0.09	0.37	0.71	(0.73)	1.71	(1.37)	4.97
DBSDF	1.93	0.16	0.03	(0.76)	2.29	(2.21)	5.26	(4.06)	13.52
IITSF	1.20	0.01	0.00	0.07	1.57	(1.20)	2.85	(2.62)	8.64
AAMAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBVXF	2.19	0.14	0.04	0.26	2.63	(2.32)	4.56	(4.20)	12.78

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ping An 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.

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Ping An Corporate Management

Yonglin Xie	Deputy General Manager	Profile
Ruisheng Sheng	Secretary of the Board	Profile
Xiaolu Zhang	Compliance Officer	Profile
Sin Tan	CoCEO Director	Profile
Xin Fu	COO Center	Profile

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