Correlation Between Suzhou Xingye and Ping An
Specify exactly 2 symbols:
By analyzing existing cross correlation between Suzhou Xingye Material and Ping An Insurance, you can compare the effects of market volatilities on Suzhou Xingye 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 Suzhou Xingye with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Xingye and Ping An.
Diversification Opportunities for Suzhou Xingye and Ping An
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Suzhou and Ping is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Xingye Material 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 Suzhou Xingye 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 Suzhou Xingye Material 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 Suzhou Xingye i.e., Suzhou Xingye and Ping An go up and down completely randomly.
Pair Corralation between Suzhou Xingye and Ping An
Assuming the 90 days trading horizon Suzhou Xingye Material is expected to generate 5.2 times more return on investment than Ping An. However, Suzhou Xingye is 5.2 times more volatile than Ping An Insurance. It trades about 0.52 of its potential returns per unit of risk. Ping An Insurance is currently generating about 0.06 per unit of risk. If you would invest 783.00 in Suzhou Xingye Material on November 4, 2024 and sell it today you would earn a total of 524.00 from holding Suzhou Xingye Material or generate 66.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Xingye Material vs. Ping An Insurance
Performance |
| Timeline |
| Suzhou Xingye Material |
| Ping An Insurance |
Suzhou Xingye and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Xingye and Ping An
The main advantage of trading using opposite Suzhou Xingye and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Xingye 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.| Suzhou Xingye vs. Anhui Transport Consulting | Suzhou Xingye vs. Guangzhou Seagull Kitchen | Suzhou Xingye vs. Chahua Modern Housewares | Suzhou Xingye vs. Yindu Kitchen Equipment |
| Ping An vs. Beijing Kaiwen Education | Ping An vs. Jiangsu Phoenix Publishing | Ping An vs. Yili Chuanning Biotechnology | Ping An vs. Changjiang Publishing Media |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |