Correlation Between Ping An and Titan Wind
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By analyzing existing cross correlation between Ping An Insurance and Titan Wind Energy, you can compare the effects of market volatilities on Ping An and Titan Wind 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 Titan Wind. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Titan Wind.
Diversification Opportunities for Ping An and Titan Wind
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Ping and Titan is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and Titan Wind Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Titan Wind Energy 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 Titan Wind. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Titan Wind Energy has no effect on the direction of Ping An i.e., Ping An and Titan Wind go up and down completely randomly.
Pair Corralation between Ping An and Titan Wind
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 0.7 times more return on investment than Titan Wind. However, Ping An Insurance is 1.43 times less risky than Titan Wind. It trades about 0.03 of its potential returns per unit of risk. Titan Wind Energy is currently generating about -0.03 per unit of risk. If you would invest 4,331 in Ping An Insurance on September 16, 2024 and sell it today you would earn a total of 1,043 from holding Ping An Insurance or generate 24.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. Titan Wind Energy
Performance |
| Timeline |
| Ping An Insurance |
| Titan Wind Energy |
Ping An and Titan Wind Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Titan Wind
The main advantage of trading using opposite Ping An and Titan Wind positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Titan Wind 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 Titan Wind will offset losses from the drop in Titan Wind'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 |
| Titan Wind vs. China State Construction | Titan Wind vs. Poly Real Estate | Titan Wind vs. China Vanke Co | Titan Wind vs. China Merchants Shekou |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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