Correlation Between Xiamen Insight and Panda Financial
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By analyzing existing cross correlation between Xiamen Insight Investment and Panda Financial Holding, you can compare the effects of market volatilities on Xiamen Insight and Panda Financial 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 Xiamen Insight with a short position of Panda Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiamen Insight and Panda Financial.
Diversification Opportunities for Xiamen Insight and Panda Financial
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Xiamen and Panda is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Xiamen Insight Investment and Panda Financial Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Panda Financial Holding and Xiamen Insight 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 Xiamen Insight Investment are associated (or correlated) with Panda Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Panda Financial Holding has no effect on the direction of Xiamen Insight i.e., Xiamen Insight and Panda Financial go up and down completely randomly.
Pair Corralation between Xiamen Insight and Panda Financial
Assuming the 90 days trading horizon Xiamen Insight Investment is expected to generate 1.22 times more return on investment than Panda Financial. However, Xiamen Insight is 1.22 times more volatile than Panda Financial Holding. It trades about 0.06 of its potential returns per unit of risk. Panda Financial Holding is currently generating about 0.0 per unit of risk. If you would invest 2,036 in Xiamen Insight Investment on October 30, 2024 and sell it today you would earn a total of 2,178 from holding Xiamen Insight Investment or generate 106.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xiamen Insight Investment vs. Panda Financial Holding
Performance |
| Timeline |
| Xiamen Insight Investment |
| Panda Financial Holding |
Xiamen Insight and Panda Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiamen Insight and Panda Financial
The main advantage of trading using opposite Xiamen Insight and Panda Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiamen Insight position performs unexpectedly, Panda Financial 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 Panda Financial will offset losses from the drop in Panda Financial's long position.| Xiamen Insight vs. Semiconductor Manufacturing Electronics | Xiamen Insight vs. Changjiang Publishing Media | Xiamen Insight vs. Mango Excellent Media | Xiamen Insight vs. Jiangxi Lianchuang Opto electronic |
| Panda Financial vs. Chengtun Mining Group | Panda Financial vs. Rising Nonferrous Metals | Panda Financial vs. Qingdao Choho Industrial | Panda Financial vs. Guangdong Jingyi Metal |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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