Correlation Between Shanghai Yaoji and Peoples Insurance
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By analyzing existing cross correlation between Shanghai Yaoji Playing and Peoples Insurance of, you can compare the effects of market volatilities on Shanghai Yaoji 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 Shanghai Yaoji with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Yaoji and Peoples Insurance.
Diversification Opportunities for Shanghai Yaoji and Peoples Insurance
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Shanghai and Peoples is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Yaoji Playing and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and Shanghai Yaoji 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 Shanghai Yaoji Playing 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 Shanghai Yaoji i.e., Shanghai Yaoji and Peoples Insurance go up and down completely randomly.
Pair Corralation between Shanghai Yaoji and Peoples Insurance
Assuming the 90 days trading horizon Shanghai Yaoji Playing is expected to under-perform the Peoples Insurance. In addition to that, Shanghai Yaoji is 2.01 times more volatile than Peoples Insurance of. It trades about -0.03 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about 0.04 per unit of volatility. If you would invest 574.00 in Peoples Insurance of on October 12, 2024 and sell it today you would earn a total of 113.00 from holding Peoples Insurance of or generate 19.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Yaoji Playing vs. Peoples Insurance of
Performance |
| Timeline |
| Shanghai Yaoji Playing |
| Peoples Insurance |
Shanghai Yaoji and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Yaoji and Peoples Insurance
The main advantage of trading using opposite Shanghai Yaoji and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Yaoji 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.| Shanghai Yaoji vs. Anhui Jinhe Industrial | Shanghai Yaoji vs. Pengxin International Mining | Shanghai Yaoji vs. Jilin Chemical Fibre | Shanghai Yaoji vs. Suzhou Industrial Park |
| Peoples Insurance vs. Innovative Medical Management | Peoples Insurance vs. Touchstone International Medical | Peoples Insurance vs. Chongqing Shunbo Aluminum | Peoples Insurance vs. Winner Medical Co |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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