Correlation Between China Life and Mango Excellent
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By analyzing existing cross correlation between China Life Insurance and Mango Excellent Media, you can compare the effects of market volatilities on China Life and Mango Excellent 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 China Life with a short position of Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Life and Mango Excellent.
Diversification Opportunities for China Life and Mango Excellent
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Mango is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding China Life Insurance and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media and China Life 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 China Life Insurance are associated (or correlated) with Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of China Life i.e., China Life and Mango Excellent go up and down completely randomly.
Pair Corralation between China Life and Mango Excellent
Assuming the 90 days trading horizon China Life Insurance is expected to generate 0.77 times more return on investment than Mango Excellent. However, China Life Insurance is 1.3 times less risky than Mango Excellent. It trades about 0.1 of its potential returns per unit of risk. Mango Excellent Media is currently generating about 0.08 per unit of risk. If you would invest 3,170 in China Life Insurance on September 3, 2024 and sell it today you would earn a total of 1,040 from holding China Life Insurance or generate 32.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Life Insurance vs. Mango Excellent Media
Performance |
| Timeline |
| China Life Insurance |
| Mango Excellent Media |
China Life and Mango Excellent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Life and Mango Excellent
The main advantage of trading using opposite China Life and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Life position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.| China Life vs. Chongqing Road Bridge | China Life vs. Wuhan Xianglong Power | China Life vs. Empyrean Technology Co | China Life vs. Yuanjie Semiconductor Technology |
| Mango Excellent vs. PetroChina Co Ltd | Mango Excellent vs. China Mobile Limited | Mango Excellent vs. Industrial and Commercial | Mango Excellent vs. China Life 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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