Correlation Between Harvest Fund and Panda Financial
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By analyzing existing cross correlation between Harvest Fund Management and Panda Financial Holding, you can compare the effects of market volatilities on Harvest Fund 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 Harvest Fund with a short position of Panda Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Panda Financial.
Diversification Opportunities for Harvest Fund and Panda Financial
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Panda is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management 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 Harvest Fund 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 Harvest Fund Management 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 Harvest Fund i.e., Harvest Fund and Panda Financial go up and down completely randomly.
Pair Corralation between Harvest Fund and Panda Financial
Assuming the 90 days trading horizon Harvest Fund is expected to generate 1032.0 times less return on investment than Panda Financial. But when comparing it to its historical volatility, Harvest Fund Management is 7.4 times less risky than Panda Financial. It trades about 0.0 of its potential returns per unit of risk. Panda Financial Holding is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 1,251 in Panda Financial Holding on September 1, 2024 and sell it today you would earn a total of 266.00 from holding Panda Financial Holding or generate 21.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Panda Financial Holding
Performance |
| Timeline |
| Harvest Fund Management |
| Panda Financial Holding |
Harvest Fund and Panda Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Panda Financial
The main advantage of trading using opposite Harvest Fund and Panda Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund 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.| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
| Panda Financial vs. BeiGene | Panda Financial vs. Kweichow Moutai Co | Panda Financial vs. Beijing Roborock Technology | Panda Financial vs. G bits Network Technology |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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