Correlation Between Panda Dairy and Cicc Fund
Specify exactly 2 symbols:
By analyzing existing cross correlation between Panda Dairy Corp and Cicc Fund Management, you can compare the effects of market volatilities on Panda Dairy and Cicc Fund 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 Panda Dairy with a short position of Cicc Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Dairy and Cicc Fund.
Diversification Opportunities for Panda Dairy and Cicc Fund
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Panda and Cicc is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Panda Dairy Corp and Cicc Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cicc Fund Management and Panda Dairy 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 Panda Dairy Corp are associated (or correlated) with Cicc Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cicc Fund Management has no effect on the direction of Panda Dairy i.e., Panda Dairy and Cicc Fund go up and down completely randomly.
Pair Corralation between Panda Dairy and Cicc Fund
Assuming the 90 days trading horizon Panda Dairy Corp is expected to generate 4.69 times more return on investment than Cicc Fund. However, Panda Dairy is 4.69 times more volatile than Cicc Fund Management. It trades about 0.0 of its potential returns per unit of risk. Cicc Fund Management is currently generating about -0.06 per unit of risk. If you would invest 2,110 in Panda Dairy Corp on August 26, 2024 and sell it today you would lose (12.00) from holding Panda Dairy Corp or give up 0.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Dairy Corp vs. Cicc Fund Management
Performance |
| Timeline |
| Panda Dairy Corp |
| Cicc Fund Management |
Panda Dairy and Cicc Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Dairy and Cicc Fund
The main advantage of trading using opposite Panda Dairy and Cicc Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Dairy position performs unexpectedly, Cicc Fund 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 Cicc Fund will offset losses from the drop in Cicc Fund's long position.| Panda Dairy vs. China Petroleum Chemical | Panda Dairy vs. PetroChina Co Ltd | Panda Dairy vs. China State Construction | Panda Dairy vs. China Railway Group |
| Cicc Fund vs. Industrial and Commercial | Cicc Fund vs. Kweichow Moutai Co | Cicc Fund vs. Agricultural Bank of | Cicc Fund vs. China Mobile Limited |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |