Correlation Between Qilu Bank and Ping An
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By analyzing existing cross correlation between Qilu Bank Co and Ping An Insurance, you can compare the effects of market volatilities on Qilu Bank and Ping An 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 Qilu Bank with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and Ping An.
Diversification Opportunities for Qilu Bank and Ping An
Almost no diversification
The 3 months correlation between Qilu and Ping is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and Ping An Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ping An Insurance and Qilu Bank 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 Qilu Bank Co are associated (or correlated) with Ping An. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ping An Insurance has no effect on the direction of Qilu Bank i.e., Qilu Bank and Ping An go up and down completely randomly.
Pair Corralation between Qilu Bank and Ping An
Assuming the 90 days trading horizon Qilu Bank Co is expected to generate 0.87 times more return on investment than Ping An. However, Qilu Bank Co is 1.14 times less risky than Ping An. It trades about 0.06 of its potential returns per unit of risk. Ping An Insurance is currently generating about 0.04 per unit of risk. If you would invest 371.00 in Qilu Bank Co on September 14, 2024 and sell it today you would earn a total of 163.00 from holding Qilu Bank Co or generate 43.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. Ping An Insurance
Performance |
| Timeline |
| Qilu Bank |
| Ping An Insurance |
Qilu Bank and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qilu Bank and Ping An
The main advantage of trading using opposite Qilu Bank and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, Ping An 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 Ping An will offset losses from the drop in Ping An's long position.| Qilu Bank vs. Cultural Investment Holdings | Qilu Bank vs. Gome Telecom Equipment | Qilu Bank vs. Holitech Technology Co | Qilu Bank vs. Zotye Automobile Co |
| Ping An vs. BYD Co Ltd | Ping An vs. China Mobile Limited | Ping An vs. Agricultural Bank of | Ping An vs. Industrial and Commercial |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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