Correlation Between GRG Banking and Peoples Insurance
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By analyzing existing cross correlation between GRG Banking Equipment and Peoples Insurance of, you can compare the effects of market volatilities on GRG Banking and Peoples Insurance 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 GRG Banking with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of GRG Banking and Peoples Insurance.
Diversification Opportunities for GRG Banking and Peoples Insurance
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between GRG and Peoples is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding GRG Banking Equipment and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and GRG Banking 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 GRG Banking Equipment are associated (or correlated) with Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of GRG Banking i.e., GRG Banking and Peoples Insurance go up and down completely randomly.
Pair Corralation between GRG Banking and Peoples Insurance
Assuming the 90 days trading horizon GRG Banking Equipment is expected to generate 1.21 times more return on investment than Peoples Insurance. However, GRG Banking is 1.21 times more volatile than Peoples Insurance of. It trades about 0.08 of its potential returns per unit of risk. Peoples Insurance of is currently generating about -0.09 per unit of risk. If you would invest 1,199 in GRG Banking Equipment on August 25, 2024 and sell it today you would earn a total of 50.00 from holding GRG Banking Equipment or generate 4.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
GRG Banking Equipment vs. Peoples Insurance of
Performance |
| Timeline |
| GRG Banking Equipment |
| Peoples Insurance |
GRG Banking and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GRG Banking and Peoples Insurance
The main advantage of trading using opposite GRG Banking and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GRG Banking position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| GRG Banking vs. Agricultural Bank of | GRG Banking vs. Industrial and Commercial | GRG Banking vs. Bank of China | GRG Banking vs. China Construction Bank |
| Peoples Insurance vs. PetroChina Co Ltd | Peoples Insurance vs. China Mobile Limited | Peoples Insurance vs. CNOOC Limited | Peoples Insurance vs. Ping An Insurance |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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