Correlation Between Ping An and Xi An
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By analyzing existing cross correlation between Ping An Insurance and Xi An Triangle, you can compare the effects of market volatilities on Ping An and Xi 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 Ping An with a short position of Xi An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Xi An.
Diversification Opportunities for Ping An and Xi An
Very poor diversification
The 3 months correlation between Ping and 300775 is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and Xi An Triangle in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xi An Triangle 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 Xi An. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xi An Triangle has no effect on the direction of Ping An i.e., Ping An and Xi An go up and down completely randomly.
Pair Corralation between Ping An and Xi An
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 0.68 times more return on investment than Xi An. However, Ping An Insurance is 1.47 times less risky than Xi An. It trades about -0.1 of its potential returns per unit of risk. Xi An Triangle is currently generating about -0.09 per unit of risk. If you would invest 5,592 in Ping An Insurance on September 1, 2024 and sell it today you would lose (267.00) from holding Ping An Insurance or give up 4.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Ping An Insurance vs. Xi An Triangle
Performance |
| Timeline |
| Ping An Insurance |
| Xi An Triangle |
Ping An and Xi An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Xi An
The main advantage of trading using opposite Ping An and Xi An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Xi 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 Xi An will offset losses from the drop in Xi An's long position.| Ping An vs. Industrial and Commercial | Ping An vs. China Construction Bank | Ping An vs. Bank of China | Ping An vs. Agricultural Bank of |
| Xi An vs. Fujian Newland Computer | Xi An vs. CSSC Offshore Marine | Xi An vs. Xiangyang Automobile Bearing | Xi An vs. Ningbo Fangzheng Automobile |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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