Correlation Between Ziel Home and Ping An
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By analyzing existing cross correlation between Ziel Home Furnishing and Ping An Insurance, you can compare the effects of market volatilities on Ziel Home 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 Ziel Home with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ziel Home and Ping An.
Diversification Opportunities for Ziel Home and Ping An
Poor diversification
The 3 months correlation between Ziel and Ping is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Ziel Home Furnishing 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 Ziel Home 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 Ziel Home Furnishing 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 Ziel Home i.e., Ziel Home and Ping An go up and down completely randomly.
Pair Corralation between Ziel Home and Ping An
Assuming the 90 days trading horizon Ziel Home Furnishing is expected to generate 1.35 times more return on investment than Ping An. However, Ziel Home is 1.35 times more volatile than Ping An Insurance. It trades about 0.02 of its potential returns per unit of risk. Ping An Insurance is currently generating about -0.16 per unit of risk. If you would invest 2,000 in Ziel Home Furnishing on August 29, 2024 and sell it today you would earn a total of 13.00 from holding Ziel Home Furnishing or generate 0.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ziel Home Furnishing vs. Ping An Insurance
Performance |
| Timeline |
| Ziel Home Furnishing |
| Ping An Insurance |
Ziel Home and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ziel Home and Ping An
The main advantage of trading using opposite Ziel Home and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ziel Home 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.| Ziel Home vs. Agricultural Bank of | Ziel Home vs. Industrial and Commercial | Ziel Home vs. Bank of China | Ziel Home vs. China Construction Bank |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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