Correlation Between Ping An and Silkroad Visual
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By analyzing existing cross correlation between Ping An Bank and Silkroad Visual Technology, you can compare the effects of market volatilities on Ping An and Silkroad Visual 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 Silkroad Visual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Silkroad Visual.
Diversification Opportunities for Ping An and Silkroad Visual
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ping and Silkroad is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Bank and Silkroad Visual Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silkroad Visual Tech 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 Silkroad Visual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silkroad Visual Tech has no effect on the direction of Ping An i.e., Ping An and Silkroad Visual go up and down completely randomly.
Pair Corralation between Ping An and Silkroad Visual
Assuming the 90 days trading horizon Ping An is expected to generate 15.69 times less return on investment than Silkroad Visual. But when comparing it to its historical volatility, Ping An Bank is 5.86 times less risky than Silkroad Visual. It trades about 0.1 of its potential returns per unit of risk. Silkroad Visual Technology is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 1,880 in Silkroad Visual Technology on November 27, 2024 and sell it today you would earn a total of 318.00 from holding Silkroad Visual Technology or generate 16.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Bank vs. Silkroad Visual Technology
Performance |
| Timeline |
| Ping An Bank |
| Silkroad Visual Tech |
Ping An and Silkroad Visual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Silkroad Visual
The main advantage of trading using opposite Ping An and Silkroad Visual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Silkroad Visual 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 Silkroad Visual will offset losses from the drop in Silkroad Visual's long position.| Ping An vs. Dynagreen Environmental Protection | Ping An vs. Baoshan Iron Steel | Ping An vs. Yili Chuanning Biotechnology | Ping An vs. Jiangsu GDK Biotechnology |
| Silkroad Visual vs. Nantong JiangTian Chemical | Silkroad Visual vs. Fujian Longzhou Transportation | Silkroad Visual vs. Xinxiang Chemical Fiber | Silkroad Visual vs. Ningbo Bohui Chemical |
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 Stocks Directory module to find actively traded stocks across global markets.
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