Correlation Between Telling Telecommunicatio and Ping An
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By analyzing existing cross correlation between Telling Telecommunication Holding and Ping An Insurance, you can compare the effects of market volatilities on Telling Telecommunicatio 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 Telling Telecommunicatio with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Telling Telecommunicatio and Ping An.
Diversification Opportunities for Telling Telecommunicatio and Ping An
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Telling and Ping is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Telling Telecommunication Hold 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 Telling Telecommunicatio 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 Telling Telecommunication Holding 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 Telling Telecommunicatio i.e., Telling Telecommunicatio and Ping An go up and down completely randomly.
Pair Corralation between Telling Telecommunicatio and Ping An
Assuming the 90 days trading horizon Telling Telecommunication Holding is expected to under-perform the Ping An. In addition to that, Telling Telecommunicatio is 2.83 times more volatile than Ping An Insurance. It trades about -0.35 of its total potential returns per unit of risk. Ping An Insurance is currently generating about -0.34 per unit of volatility. If you would invest 5,562 in Ping An Insurance on October 11, 2024 and sell it today you would lose (532.00) from holding Ping An Insurance or give up 9.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Telling Telecommunication Hold vs. Ping An Insurance
Performance |
| Timeline |
| Telling Telecommunicatio |
| Ping An Insurance |
Telling Telecommunicatio and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Telling Telecommunicatio and Ping An
The main advantage of trading using opposite Telling Telecommunicatio and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Telling Telecommunicatio 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.The idea behind Telling Telecommunication Holding and Ping An Insurance pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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