Correlation Between Peoples Insurance and Jiangsu Hoperun
Specify exactly 2 symbols:
By analyzing existing cross correlation between Peoples Insurance of and Jiangsu Hoperun Software, you can compare the effects of market volatilities on Peoples Insurance and Jiangsu Hoperun 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 Jiangsu Hoperun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Peoples Insurance and Jiangsu Hoperun.
Diversification Opportunities for Peoples Insurance and Jiangsu Hoperun
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Peoples and Jiangsu is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Peoples Insurance of and Jiangsu Hoperun Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Hoperun Software 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 Jiangsu Hoperun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Hoperun Software has no effect on the direction of Peoples Insurance i.e., Peoples Insurance and Jiangsu Hoperun go up and down completely randomly.
Pair Corralation between Peoples Insurance and Jiangsu Hoperun
Assuming the 90 days trading horizon Peoples Insurance is expected to generate 3.23 times less return on investment than Jiangsu Hoperun. But when comparing it to its historical volatility, Peoples Insurance of is 2.57 times less risky than Jiangsu Hoperun. It trades about 0.06 of its potential returns per unit of risk. Jiangsu Hoperun Software is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 1,867 in Jiangsu Hoperun Software on September 14, 2024 and sell it today you would earn a total of 4,385 from holding Jiangsu Hoperun Software or generate 234.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Peoples Insurance of vs. Jiangsu Hoperun Software
Performance |
| Timeline |
| Peoples Insurance |
| Jiangsu Hoperun Software |
Peoples Insurance and Jiangsu Hoperun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Peoples Insurance and Jiangsu Hoperun
The main advantage of trading using opposite Peoples Insurance and Jiangsu Hoperun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Peoples Insurance position performs unexpectedly, Jiangsu Hoperun 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 Jiangsu Hoperun will offset losses from the drop in Jiangsu Hoperun's long position.| Peoples Insurance vs. Cultural Investment Holdings | Peoples Insurance vs. Gome Telecom Equipment | Peoples Insurance vs. Holitech Technology Co | Peoples Insurance vs. Zotye Automobile Co |
| Jiangsu Hoperun vs. Ligao Foods CoLtd | Jiangsu Hoperun vs. Peoples Insurance of | Jiangsu Hoperun vs. Guangdong Wens Foodstuff | Jiangsu Hoperun vs. Eastroc Beverage Group |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |