Correlation Between Peoples Insurance and Easyhome New
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By analyzing existing cross correlation between Peoples Insurance of and Easyhome New Retail, you can compare the effects of market volatilities on Peoples Insurance and Easyhome New 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 Peoples Insurance with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Peoples Insurance and Easyhome New.
Diversification Opportunities for Peoples Insurance and Easyhome New
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Peoples and Easyhome is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Peoples Insurance of and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Peoples Insurance 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 Peoples Insurance of are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Peoples Insurance i.e., Peoples Insurance and Easyhome New go up and down completely randomly.
Pair Corralation between Peoples Insurance and Easyhome New
Assuming the 90 days trading horizon Peoples Insurance is expected to generate 6.16 times less return on investment than Easyhome New. But when comparing it to its historical volatility, Peoples Insurance of is 4.62 times less risky than Easyhome New. It trades about 0.18 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 292.00 in Easyhome New Retail on September 28, 2024 and sell it today you would earn a total of 102.00 from holding Easyhome New Retail or generate 34.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Peoples Insurance of vs. Easyhome New Retail
Performance |
| Timeline |
| Peoples Insurance |
| Easyhome New Retail |
Peoples Insurance and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Peoples Insurance and Easyhome New
The main advantage of trading using opposite Peoples Insurance and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Peoples Insurance position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Peoples Insurance vs. Industrial and Commercial | Peoples Insurance vs. Agricultural Bank of | Peoples Insurance vs. China Construction Bank | Peoples Insurance vs. Bank of China |
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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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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