Correlation Between Runjian Communication and Peoples Insurance
Specify exactly 2 symbols:
By analyzing existing cross correlation between Runjian Communication Co and Peoples Insurance of, you can compare the effects of market volatilities on Runjian Communication 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 Runjian Communication with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Runjian Communication and Peoples Insurance.
Diversification Opportunities for Runjian Communication and Peoples Insurance
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Runjian and Peoples is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Runjian Communication Co and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and Runjian Communication 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 Runjian Communication Co 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 Runjian Communication i.e., Runjian Communication and Peoples Insurance go up and down completely randomly.
Pair Corralation between Runjian Communication and Peoples Insurance
Assuming the 90 days trading horizon Runjian Communication Co is expected to generate 1.72 times more return on investment than Peoples Insurance. However, Runjian Communication is 1.72 times more volatile than Peoples Insurance of. It trades about 0.07 of its potential returns per unit of risk. Peoples Insurance of is currently generating about -0.01 per unit of risk. If you would invest 2,982 in Runjian Communication Co on October 30, 2024 and sell it today you would earn a total of 230.00 from holding Runjian Communication Co or generate 7.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Runjian Communication Co vs. Peoples Insurance of
Performance |
| Timeline |
| Runjian Communication |
| Peoples Insurance |
Runjian Communication and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Runjian Communication and Peoples Insurance
The main advantage of trading using opposite Runjian Communication and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Runjian Communication 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.| Runjian Communication vs. Ningbo Bohui Chemical | Runjian Communication vs. Shaanxi Construction Machinery | Runjian Communication vs. Dymatic Chemicals | Runjian Communication vs. Shanghai Construction Group |
| Peoples Insurance vs. Qtone Education Group | Peoples Insurance vs. Xiamen Jihong Package | Peoples Insurance vs. Chinese Universe Publishing | Peoples Insurance vs. China Publishing Media |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |