Correlation Between Ping An and China Publishing
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By analyzing existing cross correlation between Ping An Insurance and China Publishing Media, you can compare the effects of market volatilities on Ping An and China Publishing 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 China Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and China Publishing.
Diversification Opportunities for Ping An and China Publishing
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ping and China is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and China Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Publishing Media 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 China Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Publishing Media has no effect on the direction of Ping An i.e., Ping An and China Publishing go up and down completely randomly.
Pair Corralation between Ping An and China Publishing
Assuming the 90 days trading horizon Ping An Insurance is expected to generate 0.53 times more return on investment than China Publishing. However, Ping An Insurance is 1.89 times less risky than China Publishing. It trades about 0.06 of its potential returns per unit of risk. China Publishing Media is currently generating about -0.23 per unit of risk. If you would invest 5,305 in Ping An Insurance on September 27, 2024 and sell it today you would earn a total of 85.00 from holding Ping An Insurance or generate 1.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. China Publishing Media
Performance |
| Timeline |
| Ping An Insurance |
| China Publishing Media |
Ping An and China Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and China Publishing
The main advantage of trading using opposite Ping An and China Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, China Publishing 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 China Publishing will offset losses from the drop in China Publishing's long position.| Ping An vs. Kweichow Moutai Co | Ping An vs. Shenzhen Mindray Bio Medical | Ping An vs. Jiangsu Pacific Quartz | Ping An vs. G bits Network Technology |
| China Publishing vs. PetroChina Co Ltd | China Publishing vs. China Mobile Limited | China Publishing vs. CNOOC Limited | China Publishing vs. Ping An Insurance |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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