Correlation Between Huaxia Fund and Ping An
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By analyzing existing cross correlation between Huaxia Fund Management and Ping An Insurance, you can compare the effects of market volatilities on Huaxia Fund 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 Huaxia Fund with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huaxia Fund and Ping An.
Diversification Opportunities for Huaxia Fund and Ping An
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Huaxia and Ping is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Huaxia Fund Management 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 Huaxia Fund 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 Huaxia Fund Management 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 Huaxia Fund i.e., Huaxia Fund and Ping An go up and down completely randomly.
Pair Corralation between Huaxia Fund and Ping An
Assuming the 90 days trading horizon Huaxia Fund Management is expected to generate 0.93 times more return on investment than Ping An. However, Huaxia Fund Management is 1.08 times less risky than Ping An. It trades about 0.33 of its potential returns per unit of risk. Ping An Insurance is currently generating about -0.36 per unit of risk. If you would invest 288.00 in Huaxia Fund Management on October 25, 2024 and sell it today you would earn a total of 23.00 from holding Huaxia Fund Management or generate 7.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Huaxia Fund Management vs. Ping An Insurance
Performance |
| Timeline |
| Huaxia Fund Management |
| Ping An Insurance |
Huaxia Fund and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huaxia Fund and Ping An
The main advantage of trading using opposite Huaxia Fund and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huaxia Fund 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.| Huaxia Fund vs. Industrial and Commercial | Huaxia Fund vs. Kweichow Moutai Co | Huaxia Fund vs. Agricultural Bank of | Huaxia Fund vs. China Mobile Limited |
| Ping An vs. JCHX Mining Management | Ping An vs. Zoje Resources Investment | Ping An vs. Huaxia Fund Management | Ping An vs. Sportsoul Co Ltd |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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