Ping An Correlations

PZX Stock

EUR 7.52 0.19 2.46%

The current 90-days correlation between Ping An Insurance and Abbott Laboratories is 0.17 (i.e., Average 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 0.83 (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 Stock

0.77	4I1	Philip Morris Intern	Pair Corr
0.78	SEH	SHIN ETSU CHEMICAL	Pair Corr
0.89	DP4B	AP Mller	Pair Corr
0.94	FPMB	FREEPORT MCMORAN	Pair Corr
0.87	XMF	STOMO MITSUI FINL	Pair Corr
0.86	SCL	Schlumberger Limited	Pair Corr
0.83	JMI	Deep Yellow Limited	Pair Corr
0.68	FTD	FINDE TUBIZE ACTNOUV	Pair Corr
0.92	XSI	Sanyo Chemical Industries	Pair Corr
0.85	4OQ1	AGNC Investment Corp	Pair Corr
0.66	UUEC	United Utilities	Pair Corr
0.73	8SF	SLIGRO FOOD GROUP	Pair Corr
0.71	E908	Lyxor 1	Pair Corr
0.82	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Ping Stock

0.84	DBPD	Xtrackers ShortDAX	Pair Corr
0.61	ABL	Abbott Laboratories	Pair Corr
0.49	HK2C	Hong Kong Exchanges	Pair Corr
0.33	SNB1	SOCKET MOBILE NEW	Pair Corr

Related Correlations Analysis

	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB
ABL		-0.17	-0.74	-0.33	0.31	-0.59	-0.64	ABL
AMD	-0.17		0.01	-0.27	0.61	-0.18	-0.18	AMD
4I1	-0.74	0.01		0.54	-0.23	0.59	0.74	4I1
AMG	-0.33	-0.27	0.54		-0.1	-0.04	0.18	AMG
HK2C	0.31	0.61	-0.23	-0.1		-0.63	-0.6	HK2C
DP4B	-0.59	-0.18	0.59	-0.04	-0.63		0.92	DP4B
FPMB	-0.64	-0.18	0.74	0.18	-0.6	0.92		FPMB
	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB

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

FPMB	+ 0.92	DP4B
FPMB	+ 0.74	4I1
HK2C	+ 0.61	AMD
DP4B	+ 0.59	4I1
AMG	+ 0.54	4I1
HK2C	+ 0.31	ABL

High negative correlations

4I1	- 0.74	ABL
FPMB	- 0.64	ABL
DP4B	- 0.63	HK2C
FPMB	- 0.6	HK2C
DP4B	- 0.59	ABL
AMG	- 0.33	ABL

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
ABL	1.05	(0.18)	0.00	2.10	0.00	0.00	1.91	(2.11)	14.56
AMD	2.98	(0.33)	0.00	(0.43)	0.00	0.00	6.33	(5.75)	24.55
4I1	1.13	0.32	0.16	2.43	1.16	(1.24)	2.89	(2.55)	7.67
AMG	1.55	0.35	0.16	1.54	1.41	(1.73)	4.09	(2.96)	12.15
HK2C	0.58	(0.12)	0.00	(0.38)	0.00	0.00	1.49	(1.85)	5.73
DP4B	0.84	0.13	0.03	26.31	1.08	(1.29)	2.57	(1.82)	7.59
FPMB	1.25	0.31	0.10	2.27	1.44	(1.86)	3.93	(3.78)	9.65

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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