Correlation Between Ping An and Easyhome New
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By analyzing existing cross correlation between Ping An Insurance and Easyhome New Retail, you can compare the effects of market volatilities on Ping An and Easyhome New 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 Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Easyhome New.
Diversification Opportunities for Ping An and Easyhome New
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ping and Easyhome is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail 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 Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Ping An i.e., Ping An and Easyhome New go up and down completely randomly.
Pair Corralation between Ping An and Easyhome New
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 0.78 times more return on investment than Easyhome New. However, Ping An Insurance is 1.28 times less risky than Easyhome New. It trades about 0.04 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.03 per unit of risk. If you would invest 4,331 in Ping An Insurance on September 14, 2024 and sell it today you would earn a total of 1,227 from holding Ping An Insurance or generate 28.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. Easyhome New Retail
Performance |
| Timeline |
| Ping An Insurance |
| Easyhome New Retail |
Ping An and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Easyhome New
The main advantage of trading using opposite Ping An and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Ping An vs. BYD Co Ltd | Ping An vs. China Mobile Limited | Ping An vs. Agricultural Bank of | Ping An vs. Industrial and Commercial |
| Easyhome New vs. Ming Yang Smart | Easyhome New vs. 159681 | Easyhome New vs. 159005 | Easyhome New vs. Loctek Ergonomic 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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