Correlation Between Ping An and Sino-Platinum Metals
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By analyzing existing cross correlation between Ping An Insurance and Sino Platinum Metals Co, you can compare the effects of market volatilities on Ping An and Sino-Platinum Metals 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 Sino-Platinum Metals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Sino-Platinum Metals.
Diversification Opportunities for Ping An and Sino-Platinum Metals
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ping and Sino-Platinum is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and Sino Platinum Metals Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Platinum Metals 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 Sino-Platinum Metals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Platinum Metals has no effect on the direction of Ping An i.e., Ping An and Sino-Platinum Metals go up and down completely randomly.
Pair Corralation between Ping An and Sino-Platinum Metals
Assuming the 90 days trading horizon Ping An is expected to generate 3.5 times less return on investment than Sino-Platinum Metals. In addition to that, Ping An is 1.34 times more volatile than Sino Platinum Metals Co. It trades about 0.05 of its total potential returns per unit of risk. Sino Platinum Metals Co is currently generating about 0.24 per unit of volatility. If you would invest 1,355 in Sino Platinum Metals Co on December 27, 2024 and sell it today you would earn a total of 80.00 from holding Sino Platinum Metals Co or generate 5.9% 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. Sino Platinum Metals Co
Performance |
| Timeline |
| Ping An Insurance |
| Sino Platinum Metals |
Ping An and Sino-Platinum Metals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Sino-Platinum Metals
The main advantage of trading using opposite Ping An and Sino-Platinum Metals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Sino-Platinum Metals 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 Sino-Platinum Metals will offset losses from the drop in Sino-Platinum Metals' long position.| Ping An vs. Offcn Education Technology | Ping An vs. Guocheng Mining Co | Ping An vs. Duzhe Publishing Media | Ping An vs. Huaibei Mining Holdings |
| Sino-Platinum Metals vs. Ningbo Tech Bank Co | Sino-Platinum Metals vs. Qilu Bank Co | Sino-Platinum Metals vs. Hua Xia Bank | Sino-Platinum Metals vs. Bank of Suzhou |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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