Correlation Between Sichuan Fulin and Ping An
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sichuan Fulin Transportation and Ping An Bank, you can compare the effects of market volatilities on Sichuan Fulin 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 Sichuan Fulin with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Fulin and Ping An.
Diversification Opportunities for Sichuan Fulin and Ping An
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sichuan and Ping is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Fulin Transportation 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 Sichuan Fulin 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 Sichuan Fulin Transportation 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 Sichuan Fulin i.e., Sichuan Fulin and Ping An go up and down completely randomly.
Pair Corralation between Sichuan Fulin and Ping An
If you would invest 667.00 in Sichuan Fulin Transportation on September 13, 2024 and sell it today you would earn a total of 155.00 from holding Sichuan Fulin Transportation or generate 23.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
Sichuan Fulin Transportation vs. Ping An Bank
Performance |
| Timeline |
| Sichuan Fulin Transp |
| Ping An Bank |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
Sichuan Fulin and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Fulin and Ping An
The main advantage of trading using opposite Sichuan Fulin and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Fulin 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.| Sichuan Fulin vs. Ming Yang Smart | Sichuan Fulin vs. 159681 | Sichuan Fulin vs. 159005 | Sichuan Fulin vs. Loctek Ergonomic Technology |
| Ping An vs. Guilin Seamild Foods | Ping An vs. Lier Chemical Co | Ping An vs. Liuzhou Chemical Industry | Ping An vs. Suzhou Weizhixiang Food |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |