Correlation Between Peoples Insurance and Shanghai Shuixing
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By analyzing existing cross correlation between Peoples Insurance of and Shanghai Shuixing Home, you can compare the effects of market volatilities on Peoples Insurance and Shanghai Shuixing 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 Shanghai Shuixing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Peoples Insurance and Shanghai Shuixing.
Diversification Opportunities for Peoples Insurance and Shanghai Shuixing
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Peoples and Shanghai is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Peoples Insurance of and Shanghai Shuixing Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Shuixing Home 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 Shanghai Shuixing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Shuixing Home has no effect on the direction of Peoples Insurance i.e., Peoples Insurance and Shanghai Shuixing go up and down completely randomly.
Pair Corralation between Peoples Insurance and Shanghai Shuixing
Assuming the 90 days trading horizon Peoples Insurance of is expected to generate 0.64 times more return on investment than Shanghai Shuixing. However, Peoples Insurance of is 1.55 times less risky than Shanghai Shuixing. It trades about -0.01 of its potential returns per unit of risk. Shanghai Shuixing Home is currently generating about -0.18 per unit of risk. If you would invest 720.00 in Peoples Insurance of on November 3, 2024 and sell it today you would lose (4.00) from holding Peoples Insurance of or give up 0.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Peoples Insurance of vs. Shanghai Shuixing Home
Performance |
| Timeline |
| Peoples Insurance |
| Shanghai Shuixing Home |
Peoples Insurance and Shanghai Shuixing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Peoples Insurance and Shanghai Shuixing
The main advantage of trading using opposite Peoples Insurance and Shanghai Shuixing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Peoples Insurance position performs unexpectedly, Shanghai Shuixing 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 Shanghai Shuixing will offset losses from the drop in Shanghai Shuixing's long position.| Peoples Insurance vs. CIMC Vehicles Co | Peoples Insurance vs. Guocheng Mining Co | Peoples Insurance vs. Iat Automobile Technology | Peoples Insurance vs. Shengda Mining Co |
| Shanghai Shuixing vs. Beijing Mainstreets Investment | Shanghai Shuixing vs. Shanghai Jinfeng Wine | Shanghai Shuixing vs. Zhongrun Resources Investment | Shanghai Shuixing vs. Bingo Software 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 CEOs Directory module to screen CEOs from public companies around the world.
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