Correlation Between United Insurance and QINGCI GAMES

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Can any of the company-specific risk be diversified away by investing in both United Insurance and QINGCI GAMES 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 United Insurance and QINGCI GAMES into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between United Insurance Holdings and QINGCI GAMES INC, you can compare the effects of market volatilities on United Insurance and QINGCI GAMES 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 United Insurance with a short position of QINGCI GAMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of United Insurance and QINGCI GAMES.

Diversification Opportunities for United Insurance and QINGCI GAMES

UnitedQINGCIDiversified AwayUnitedQINGCIDiversified Away100%
0.3
  Correlation Coefficient

Weak diversification

The 3 months correlation between United and QINGCI is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding United Insurance Holdings and QINGCI GAMES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QINGCI GAMES INC and United Insurance 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 United Insurance Holdings are associated (or correlated) with QINGCI GAMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QINGCI GAMES INC has no effect on the direction of United Insurance i.e., United Insurance and QINGCI GAMES go up and down completely randomly.

Pair Corralation between United Insurance and QINGCI GAMES

Assuming the 90 days horizon United Insurance is expected to generate 1.96 times less return on investment than QINGCI GAMES. In addition to that, United Insurance is 1.11 times more volatile than QINGCI GAMES INC. It trades about 0.07 of its total potential returns per unit of risk. QINGCI GAMES INC is currently generating about 0.15 per unit of volatility. If you would invest  27.00  in QINGCI GAMES INC on October 26, 2024 and sell it today you would earn a total of  7.00  from holding QINGCI GAMES INC or generate 25.93% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

United Insurance Holdings  vs.  QINGCI GAMES INC

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 -10010203040
JavaScript chart by amCharts 3.21.150UI Z56
       Timeline  
United Insurance Holdings 

Risk-Adjusted Performance

5 of 100

 
Weak
 
Strong
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in United Insurance Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, United Insurance reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan9.51010.51111.51212.513
QINGCI GAMES INC 

Risk-Adjusted Performance

12 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in QINGCI GAMES INC are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, QINGCI GAMES reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan0.0010.010.1

United Insurance and QINGCI GAMES Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-11.87-8.89-5.91-2.930.03.06.169.3212.4815.64 0.0150.0200.0250.0300.035
JavaScript chart by amCharts 3.21.150UI Z56
       Returns  

Pair Trading with United Insurance and QINGCI GAMES

The main advantage of trading using opposite United Insurance and QINGCI GAMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if United Insurance position performs unexpectedly, QINGCI GAMES 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 QINGCI GAMES will offset losses from the drop in QINGCI GAMES's long position.
The idea behind United Insurance Holdings and QINGCI GAMES INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.

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