Correlation Between Oriental Times and Ping An
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By analyzing existing cross correlation between Oriental Times Media and Ping An Bank, you can compare the effects of market volatilities on Oriental Times 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 Oriental Times with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oriental Times and Ping An.
Diversification Opportunities for Oriental Times and Ping An
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Oriental and Ping is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Times Media and Ping An Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ping An Bank and Oriental Times 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 Oriental Times Media 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 Bank has no effect on the direction of Oriental Times i.e., Oriental Times and Ping An go up and down completely randomly.
Pair Corralation between Oriental Times and Ping An
Assuming the 90 days trading horizon Oriental Times Media is expected to generate 6.36 times more return on investment than Ping An. However, Oriental Times is 6.36 times more volatile than Ping An Bank. It trades about 0.37 of its potential returns per unit of risk. Ping An Bank is currently generating about 0.04 per unit of risk. If you would invest 442.00 in Oriental Times Media on November 28, 2024 and sell it today you would earn a total of 133.00 from holding Oriental Times Media or generate 30.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oriental Times Media vs. Ping An Bank
Performance |
| Timeline |
| Oriental Times Media |
| Ping An Bank |
Oriental Times and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oriental Times and Ping An
The main advantage of trading using opposite Oriental Times and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oriental Times 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.| Oriental Times vs. Jiangsu Financial Leasing | Oriental Times vs. Guotai Epoint Software | Oriental Times vs. Hangzhou Pinming Software | Oriental Times vs. Markor International Home |
| Ping An vs. Will Semiconductor Co | Ping An vs. Jiangsu Broadcasting Cable | Ping An vs. Sichuan Fulin Transportation | Ping An vs. Shaanxi Broadcast TV |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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