Correlation Between EAT WELL and Ping An
Can any of the company-specific risk be diversified away by investing in both EAT WELL and Ping An at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining EAT WELL and Ping An into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EAT WELL INVESTMENT and Ping An Healthcare, you can compare the effects of market volatilities on EAT WELL 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 EAT WELL with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and Ping An.
Diversification Opportunities for EAT WELL and Ping An
Pay attention - limited upside
The 3 months correlation between EAT and Ping is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and Ping An Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ping An Healthcare and EAT WELL 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 EAT WELL INVESTMENT 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 Healthcare has no effect on the direction of EAT WELL i.e., EAT WELL and Ping An go up and down completely randomly.
Pair Corralation between EAT WELL and Ping An
If you would invest 11.00 in EAT WELL INVESTMENT on September 21, 2024 and sell it today you would earn a total of 0.00 from holding EAT WELL INVESTMENT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.17% |
| Values | Daily Returns |
EAT WELL INVESTMENT vs. Ping An Healthcare
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| Ping An Healthcare |
EAT WELL and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and Ping An
The main advantage of trading using opposite EAT WELL and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL 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.| EAT WELL vs. Ameriprise Financial | EAT WELL vs. Ares Management Corp | EAT WELL vs. Superior Plus Corp | EAT WELL vs. SIVERS SEMICONDUCTORS AB |
| Ping An vs. REVO INSURANCE SPA | Ping An vs. CREDIT AGRICOLE | Ping An vs. CDN IMPERIAL BANK | Ping An vs. TFS FINANCIAL |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |