Correlation Between China Life and Zhongjing Food
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By analyzing existing cross correlation between China Life Insurance and Zhongjing Food Co, you can compare the effects of market volatilities on China Life and Zhongjing Food 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 Zhongjing Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Life and Zhongjing Food.
Diversification Opportunities for China Life and Zhongjing Food
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Zhongjing is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Life Insurance and Zhongjing Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhongjing Food 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 Zhongjing Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhongjing Food has no effect on the direction of China Life i.e., China Life and Zhongjing Food go up and down completely randomly.
Pair Corralation between China Life and Zhongjing Food
If you would invest 3,324 in China Life Insurance on November 3, 2024 and sell it today you would earn a total of 736.00 from holding China Life Insurance or generate 22.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
China Life Insurance vs. Zhongjing Food Co
Performance |
| Timeline |
| China Life Insurance |
| Zhongjing Food |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
China Life and Zhongjing Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Life and Zhongjing Food
The main advantage of trading using opposite China Life and Zhongjing Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Life position performs unexpectedly, Zhongjing Food 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 Zhongjing Food will offset losses from the drop in Zhongjing Food's long position.| China Life vs. Shenzhen Noposion Agrochemicals | China Life vs. Shenyang Chemical Industry | China Life vs. Daoming OpticsChemical Co | China Life vs. Semiconductor Manufacturing Intl |
| Zhongjing Food vs. Duzhe Publishing Media | Zhongjing Food vs. Shanghai Action Education | Zhongjing Food vs. COL Digital Publishing | Zhongjing Food vs. Jiangsu Phoenix Publishing |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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