Correlation Between Salesforce and Ping An
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By analyzing existing cross correlation between Salesforce and Ping An Bank, you can compare the effects of market volatilities on Salesforce 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 Salesforce with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Salesforce and Ping An.
Diversification Opportunities for Salesforce and Ping An
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Salesforce and Ping is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Salesforce and Ping An Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ping An Bank and Salesforce 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 Salesforce 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 Bank has no effect on the direction of Salesforce i.e., Salesforce and Ping An go up and down completely randomly.
Pair Corralation between Salesforce and Ping An
Considering the 90-day investment horizon Salesforce is expected to under-perform the Ping An. In addition to that, Salesforce is 2.52 times more volatile than Ping An Bank. It trades about -0.3 of its total potential returns per unit of risk. Ping An Bank is currently generating about 0.04 per unit of volatility. If you would invest 1,147 in Ping An Bank on November 28, 2024 and sell it today you would earn a total of 5.00 from holding Ping An Bank or generate 0.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 77.27% |
| Values | Daily Returns |
Salesforce vs. Ping An Bank
Performance |
| Timeline |
| Salesforce |
| Ping An Bank |
Salesforce and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Salesforce and Ping An
The main advantage of trading using opposite Salesforce and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Salesforce 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.| Salesforce vs. Zoom Video Communications | Salesforce vs. C3 Ai Inc | Salesforce vs. Shopify | Salesforce vs. Workday |
| Ping An vs. Will Semiconductor Co | Ping An vs. Jiangsu Broadcasting Cable | Ping An vs. Sichuan Fulin Transportation | Ping An vs. Shaanxi Broadcast TV |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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