Correlation Between Huaxia Fund and Peoples Insurance
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By analyzing existing cross correlation between Huaxia Fund Management and Peoples Insurance of, you can compare the effects of market volatilities on Huaxia Fund 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 Huaxia Fund with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Huaxia Fund and Peoples Insurance.
Diversification Opportunities for Huaxia Fund and Peoples Insurance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Huaxia and Peoples is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Huaxia Fund Management and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples 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 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 Huaxia Fund i.e., Huaxia Fund and Peoples Insurance go up and down completely randomly.
Pair Corralation between Huaxia Fund and Peoples Insurance
Assuming the 90 days trading horizon Huaxia Fund Management is expected to generate 0.6 times more return on investment than Peoples Insurance. However, Huaxia Fund Management is 1.65 times less risky than Peoples Insurance. It trades about 0.08 of its potential returns per unit of risk. Peoples Insurance of is currently generating about 0.04 per unit of risk. If you would invest 230.00 in Huaxia Fund Management on October 12, 2024 and sell it today you would earn a total of 76.00 from holding Huaxia Fund Management or generate 33.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Huaxia Fund Management vs. Peoples Insurance of
Performance |
| Timeline |
| Huaxia Fund Management |
| Peoples Insurance |
Huaxia Fund and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Huaxia Fund and Peoples Insurance
The main advantage of trading using opposite Huaxia Fund and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Huaxia Fund 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.| Huaxia Fund vs. Bank of Suzhou | Huaxia Fund vs. Shenwu Energy Saving | Huaxia Fund vs. Qilu Bank Co | Huaxia Fund vs. Shaanxi Construction Machinery |
| Peoples Insurance vs. Innovative Medical Management | Peoples Insurance vs. Touchstone International Medical | Peoples Insurance vs. Chongqing Shunbo Aluminum | Peoples Insurance vs. Winner Medical Co |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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