Correlation Between Jiangsu Financial and Ping An
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By analyzing existing cross correlation between Jiangsu Financial Leasing and Ping An Insurance, you can compare the effects of market volatilities on Jiangsu Financial 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 Jiangsu Financial with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Financial and Ping An.
Diversification Opportunities for Jiangsu Financial and Ping An
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jiangsu and Ping is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Financial Leasing 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 Jiangsu Financial 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 Jiangsu Financial Leasing 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 Jiangsu Financial i.e., Jiangsu Financial and Ping An go up and down completely randomly.
Pair Corralation between Jiangsu Financial and Ping An
Assuming the 90 days trading horizon Jiangsu Financial Leasing is expected to generate 0.92 times more return on investment than Ping An. However, Jiangsu Financial Leasing is 1.09 times less risky than Ping An. It trades about 0.05 of its potential returns per unit of risk. Ping An Insurance is currently generating about 0.03 per unit of risk. If you would invest 365.00 in Jiangsu Financial Leasing on September 5, 2024 and sell it today you would earn a total of 150.00 from holding Jiangsu Financial Leasing or generate 41.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Financial Leasing vs. Ping An Insurance
Performance |
| Timeline |
| Jiangsu Financial Leasing |
| Ping An Insurance |
Jiangsu Financial and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Financial and Ping An
The main advantage of trading using opposite Jiangsu Financial and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Financial 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.| Jiangsu Financial vs. China Petroleum Chemical | Jiangsu Financial vs. PetroChina Co Ltd | Jiangsu Financial vs. China State Construction | Jiangsu Financial vs. China Railway Group |
| Ping An vs. Southchip Semiconductor Technology | Ping An vs. Allwin Telecommunication Co | Ping An vs. Sunwave Communications Co | Ping An vs. Iat Automobile Technology |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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