Correlation Between Silkroad Visual and Ping An
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By analyzing existing cross correlation between Silkroad Visual Technology and Ping An Insurance, you can compare the effects of market volatilities on Silkroad Visual 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 Silkroad Visual with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Silkroad Visual and Ping An.
Diversification Opportunities for Silkroad Visual and Ping An
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Silkroad and Ping is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Silkroad Visual Technology 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 Silkroad Visual 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 Silkroad Visual Technology 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 Silkroad Visual i.e., Silkroad Visual and Ping An go up and down completely randomly.
Pair Corralation between Silkroad Visual and Ping An
Assuming the 90 days trading horizon Silkroad Visual Technology is expected to under-perform the Ping An. In addition to that, Silkroad Visual is 3.83 times more volatile than Ping An Insurance. It trades about -0.47 of its total potential returns per unit of risk. Ping An Insurance is currently generating about -0.38 per unit of volatility. If you would invest 5,374 in Ping An Insurance on October 14, 2024 and sell it today you would lose (479.00) from holding Ping An Insurance or give up 8.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Silkroad Visual Technology vs. Ping An Insurance
Performance |
| Timeline |
| Silkroad Visual Tech |
| Ping An Insurance |
Silkroad Visual and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Silkroad Visual and Ping An
The main advantage of trading using opposite Silkroad Visual and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Silkroad Visual 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.| Silkroad Visual vs. Sanxiang Advanced Materials | Silkroad Visual vs. Malion New Materials | Silkroad Visual vs. Dazhong Transportation Group | Silkroad Visual vs. Advanced Technology Materials |
| Ping An vs. Gan Yuan Foods | Ping An vs. Caihong Display Devices | Ping An vs. Runjian Communication Co | Ping An vs. Shanghai Jinfeng Wine |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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