Correlation Between Jiajia Food and Ping An
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By analyzing existing cross correlation between Jiajia Food Group and Ping An Insurance, you can compare the effects of market volatilities on Jiajia Food 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 Jiajia Food with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiajia Food and Ping An.
Diversification Opportunities for Jiajia Food and Ping An
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jiajia and Ping is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Jiajia Food Group 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 Jiajia Food 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 Jiajia Food Group 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 Jiajia Food i.e., Jiajia Food and Ping An go up and down completely randomly.
Pair Corralation between Jiajia Food and Ping An
Assuming the 90 days trading horizon Jiajia Food Group is expected to generate 2.41 times more return on investment than Ping An. However, Jiajia Food is 2.41 times more volatile than Ping An Insurance. It trades about -0.03 of its potential returns per unit of risk. Ping An Insurance is currently generating about -0.3 per unit of risk. If you would invest 462.00 in Jiajia Food Group on October 10, 2024 and sell it today you would lose (15.00) from holding Jiajia Food Group or give up 3.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiajia Food Group vs. Ping An Insurance
Performance |
| Timeline |
| Jiajia Food Group |
| Ping An Insurance |
Jiajia Food and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiajia Food and Ping An
The main advantage of trading using opposite Jiajia Food and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiajia Food 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.| Jiajia Food vs. Xinjiang Baodi Mining | Jiajia Food vs. Lonkey Industrial Co | Jiajia Food vs. Bosera CMSK Industrial | Jiajia Food vs. Pengxin International Mining |
| Ping An vs. Do Fluoride Chemicals Co | Ping An vs. Sunny Loan Top | Ping An vs. Oppein Home Group | Ping An vs. Ningxia Younglight Chemicals |
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 Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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