Correlation Between Ping An and Qilu Bank
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By analyzing existing cross correlation between Ping An Insurance and Qilu Bank Co, you can compare the effects of market volatilities on Ping An and Qilu Bank 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 Qilu Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Qilu Bank.
Diversification Opportunities for Ping An and Qilu Bank
Almost no diversification
The 3 months correlation between Ping and Qilu is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and Qilu Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qilu Bank 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 Qilu Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qilu Bank has no effect on the direction of Ping An i.e., Ping An and Qilu Bank go up and down completely randomly.
Pair Corralation between Ping An and Qilu Bank
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 0.92 times more return on investment than Qilu Bank. However, Ping An Insurance is 1.09 times less risky than Qilu Bank. It trades about 0.09 of its potential returns per unit of risk. Qilu Bank Co is currently generating about 0.08 per unit of risk. If you would invest 3,871 in Ping An Insurance on September 14, 2024 and sell it today you would earn a total of 1,687 from holding Ping An Insurance or generate 43.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. Qilu Bank Co
Performance |
| Timeline |
| Ping An Insurance |
| Qilu Bank |
Ping An and Qilu Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Qilu Bank
The main advantage of trading using opposite Ping An and Qilu Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Qilu Bank 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 Qilu Bank will offset losses from the drop in Qilu Bank'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 |
| Qilu Bank vs. Cultural Investment Holdings | Qilu Bank vs. Gome Telecom Equipment | Qilu Bank vs. Holitech Technology Co | Qilu Bank vs. Zotye Automobile Co |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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