Correlation Between Yankershop Food and Panda Financial
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By analyzing existing cross correlation between Yankershop Food Co and Panda Financial Holding, you can compare the effects of market volatilities on Yankershop Food 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 Yankershop Food with a short position of Panda Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Panda Financial.
Diversification Opportunities for Yankershop Food and Panda Financial
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yankershop and Panda is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co 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 Yankershop Food 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 Yankershop Food Co 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 Yankershop Food i.e., Yankershop Food and Panda Financial go up and down completely randomly.
Pair Corralation between Yankershop Food and Panda Financial
Assuming the 90 days trading horizon Yankershop Food Co is expected to generate 0.81 times more return on investment than Panda Financial. However, Yankershop Food Co is 1.23 times less risky than Panda Financial. It trades about 0.04 of its potential returns per unit of risk. Panda Financial Holding is currently generating about -0.2 per unit of risk. If you would invest 5,181 in Yankershop Food Co on October 30, 2024 and sell it today you would earn a total of 151.00 from holding Yankershop Food Co or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yankershop Food Co vs. Panda Financial Holding
Performance |
| Timeline |
| Yankershop Food |
| Panda Financial Holding |
Yankershop Food and Panda Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Panda Financial
The main advantage of trading using opposite Yankershop Food and Panda Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food 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.| Yankershop Food vs. Kweichow Moutai Co | Yankershop Food vs. Contemporary Amperex Technology | Yankershop Food vs. G bits Network Technology | Yankershop Food vs. Beijing Roborock Technology |
| 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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