Correlation Between Ainsworth Game and Ping An
Can any of the company-specific risk be diversified away by investing in both Ainsworth Game 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 Ainsworth Game and Ping An into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ainsworth Game Technology and Ping An Insurance, you can compare the effects of market volatilities on Ainsworth Game 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 Ainsworth Game with a short position of Ping An. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainsworth Game and Ping An.
Diversification Opportunities for Ainsworth Game and Ping An
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ainsworth and Ping is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Ainsworth Game Technology 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 Ainsworth Game 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 Ainsworth Game Technology 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 Ainsworth Game i.e., Ainsworth Game and Ping An go up and down completely randomly.
Pair Corralation between Ainsworth Game and Ping An
Assuming the 90 days horizon Ainsworth Game Technology is expected to under-perform the Ping An. In addition to that, Ainsworth Game is 1.06 times more volatile than Ping An Insurance. It trades about 0.0 of its total potential returns per unit of risk. Ping An Insurance is currently generating about 0.06 per unit of volatility. If you would invest 692.00 in Ping An Insurance on September 8, 2025 and sell it today you would earn a total of 58.00 from holding Ping An Insurance or generate 8.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ainsworth Game Technology vs. Ping An Insurance
Performance |
| Timeline |
| Ainsworth Game Technology |
| Ping An Insurance |
Ainsworth Game and Ping An Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ainsworth Game and Ping An
The main advantage of trading using opposite Ainsworth Game and Ping An positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainsworth Game 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.| Ainsworth Game vs. Flutter Entertainment plc | Ainsworth Game vs. Evolution Gaming Group | Ainsworth Game vs. Evolution AB | Ainsworth Game vs. DraftKings |
| Ping An vs. Fubon Financial Holding | Ping An vs. Ping An Insurance | Ping An vs. AIA Group Ltd | Ping An vs. AIA Group |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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