Correlation Between Ping An and Toys"R"Us ANZ
Can any of the company-specific risk be diversified away by investing in both Ping An and Toys"R"Us ANZ 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 Ping An and Toys"R"Us ANZ into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ping An Insurance and ToysRUs ANZ Limited, you can compare the effects of market volatilities on Ping An and Toys"R"Us ANZ 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 Ping An with a short position of Toys"R"Us ANZ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ping An and Toys"R"Us ANZ.
Diversification Opportunities for Ping An and Toys"R"Us ANZ
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ping and Toys"R"Us is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ping An Insurance and ToysRUs ANZ Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ToysRUs ANZ Limited and Ping An 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 Ping An Insurance are associated (or correlated) with Toys"R"Us ANZ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ToysRUs ANZ Limited has no effect on the direction of Ping An i.e., Ping An and Toys"R"Us ANZ go up and down completely randomly.
Pair Corralation between Ping An and Toys"R"Us ANZ
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 | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ping An Insurance vs. ToysRUs ANZ Limited
Performance |
| Timeline |
| Ping An Insurance |
| ToysRUs ANZ Limited |
Ping An and Toys"R"Us ANZ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ping An and Toys"R"Us ANZ
The main advantage of trading using opposite Ping An and Toys"R"Us ANZ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ping An position performs unexpectedly, Toys"R"Us ANZ 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 Toys"R"Us ANZ will offset losses from the drop in Toys"R"Us ANZ's long position.| Ping An vs. Fubon Financial Holding | Ping An vs. Ping An Insurance | Ping An vs. AIA Group Ltd | Ping An vs. AIA Group |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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