Correlation Between Ping An and CSG Holding
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By analyzing existing cross correlation between Ping An Insurance and CSG Holding Co, you can compare the effects of market volatilities on Ping An and CSG Holding 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 Ping An with a short position of CSG Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and CSG Holding.
Diversification Opportunities for Ping An and CSG Holding
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ping and CSG is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and CSG Holding Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Holding and Ping An 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 Ping An Insurance are associated (or correlated) with CSG Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Holding has no effect on the direction of Ping An i.e., Ping An and CSG Holding go up and down completely randomly.
Pair Corralation between Ping An and CSG Holding
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 1.29 times more return on investment than CSG Holding. However, Ping An is 1.29 times more volatile than CSG Holding Co. It trades about 0.12 of its potential returns per unit of risk. CSG Holding Co is currently generating about 0.07 per unit of risk. If you would invest 4,403 in Ping An Insurance on August 30, 2024 and sell it today you would earn a total of 914.00 from holding Ping An Insurance or generate 20.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. CSG Holding Co
Performance |
| Timeline |
| Ping An Insurance |
| CSG Holding |
Ping An and CSG Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and CSG Holding
The main advantage of trading using opposite Ping An and CSG Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, CSG Holding 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 CSG Holding will offset losses from the drop in CSG Holding's long position.| Ping An vs. Agricultural Bank of | Ping An vs. Hangzhou Pinming Software | Ping An vs. Shandong Mining Machinery | Ping An vs. GuoChuang Software Co |
| CSG Holding vs. Orinko Advanced Plastics | CSG Holding vs. Changjiang Jinggong Steel | CSG Holding vs. Gansu Jiu Steel | CSG Holding vs. Advanced Technology Materials |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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