Correlation Between Shenzhen Centralcon and Ping An
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By analyzing existing cross correlation between Shenzhen Centralcon Investment and Ping An Insurance, you can compare the effects of market volatilities on Shenzhen Centralcon and Ping An 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 Shenzhen Centralcon with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Centralcon and Ping An.
Diversification Opportunities for Shenzhen Centralcon and Ping An
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Shenzhen and Ping is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Centralcon Investment and Ping An Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ping An Insurance and Shenzhen Centralcon 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 Shenzhen Centralcon Investment are associated (or correlated) with Ping An. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ping An Insurance has no effect on the direction of Shenzhen Centralcon i.e., Shenzhen Centralcon and Ping An go up and down completely randomly.
Pair Corralation between Shenzhen Centralcon and Ping An
Assuming the 90 days trading horizon Shenzhen Centralcon Investment is expected to under-perform the Ping An. In addition to that, Shenzhen Centralcon is 1.77 times more volatile than Ping An Insurance. It trades about -0.02 of its total potential returns per unit of risk. Ping An Insurance is currently generating about 0.02 per unit of volatility. If you would invest 4,781 in Ping An Insurance on November 1, 2024 and sell it today you would earn a total of 304.00 from holding Ping An Insurance or generate 6.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Centralcon Investment vs. Ping An Insurance
Performance |
| Timeline |
| Shenzhen Centralcon |
| Ping An Insurance |
Shenzhen Centralcon and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Centralcon and Ping An
The main advantage of trading using opposite Shenzhen Centralcon and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Centralcon position performs unexpectedly, Ping An 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 Ping An will offset losses from the drop in Ping An's long position.| Shenzhen Centralcon vs. Uxi Unicomp Technology | Shenzhen Centralcon vs. Lander Sports Development | Shenzhen Centralcon vs. Fujian Longzhou Transportation | Shenzhen Centralcon vs. ROPEOK Technology Group |
| Ping An vs. Dongguan Tarry Electronics | Ping An vs. Sihui Fuji Electronics | Ping An vs. Jiangyin Jianghua Microelectronics | Ping An vs. Shenzhen Centralcon Investment |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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