Correlation Between Ping An and Mango Excellent
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By analyzing existing cross correlation between Ping An Bank and Mango Excellent Media, you can compare the effects of market volatilities on Ping An and Mango Excellent 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 Ping An with a short position of Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Mango Excellent.
Diversification Opportunities for Ping An and Mango Excellent
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ping and Mango is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Bank and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media and Ping An 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 Ping An Bank are associated (or correlated) with Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of Ping An i.e., Ping An and Mango Excellent go up and down completely randomly.
Pair Corralation between Ping An and Mango Excellent
Assuming the 90 days trading horizon Ping An Bank is expected to generate 0.32 times more return on investment than Mango Excellent. However, Ping An Bank is 3.12 times less risky than Mango Excellent. It trades about 0.04 of its potential returns per unit of risk. Mango Excellent Media is currently generating about -0.12 per unit of risk. If you would invest 1,147 in Ping An Bank on November 28, 2024 and sell it today you would earn a total of 5.00 from holding Ping An Bank or generate 0.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 94.12% |
| Values | Daily Returns |
Ping An Bank vs. Mango Excellent Media
Performance |
| Timeline |
| Ping An Bank |
| Mango Excellent Media |
Ping An and Mango Excellent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Mango Excellent
The main advantage of trading using opposite Ping An and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.| Ping An vs. Will Semiconductor Co | Ping An vs. Jiangsu Broadcasting Cable | Ping An vs. Sichuan Fulin Transportation | Ping An vs. Shaanxi Broadcast TV |
| Mango Excellent vs. China Everbright Bank | Mango Excellent vs. HeNan Splendor Science | Mango Excellent vs. Guotai Epoint Software | Mango Excellent vs. Dhc Software Co |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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