Correlation Between Panda Financial and Guangzhou KingTeller
Specify exactly 2 symbols:
By analyzing existing cross correlation between Panda Financial Holding and Guangzhou KingTeller Technology, you can compare the effects of market volatilities on Panda Financial and Guangzhou KingTeller 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 Financial with a short position of Guangzhou KingTeller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Financial and Guangzhou KingTeller.
Diversification Opportunities for Panda Financial and Guangzhou KingTeller
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Panda and Guangzhou is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Panda Financial Holding and Guangzhou KingTeller Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou KingTeller and Panda Financial 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 Financial Holding are associated (or correlated) with Guangzhou KingTeller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou KingTeller has no effect on the direction of Panda Financial i.e., Panda Financial and Guangzhou KingTeller go up and down completely randomly.
Pair Corralation between Panda Financial and Guangzhou KingTeller
Assuming the 90 days trading horizon Panda Financial Holding is expected to under-perform the Guangzhou KingTeller. But the stock apears to be less risky and, when comparing its historical volatility, Panda Financial Holding is 1.66 times less risky than Guangzhou KingTeller. The stock trades about -0.18 of its potential returns per unit of risk. The Guangzhou KingTeller Technology is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 420.00 in Guangzhou KingTeller Technology on November 4, 2024 and sell it today you would earn a total of 38.00 from holding Guangzhou KingTeller Technology or generate 9.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Financial Holding vs. Guangzhou KingTeller Technolog
Performance |
| Timeline |
| Panda Financial Holding |
| Guangzhou KingTeller |
Panda Financial and Guangzhou KingTeller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Financial and Guangzhou KingTeller
The main advantage of trading using opposite Panda Financial and Guangzhou KingTeller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Financial position performs unexpectedly, Guangzhou KingTeller 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 Guangzhou KingTeller will offset losses from the drop in Guangzhou KingTeller's long position.| Panda Financial vs. Shandong Kuntai New | Panda Financial vs. Ningbo Tip Rubber | Panda Financial vs. Jilin OLED Material | Panda Financial vs. GRIPM Advanced Materials |
| Guangzhou KingTeller vs. Zhongfu Information | Guangzhou KingTeller vs. Beingmate Baby Child | Guangzhou KingTeller vs. Wonders Information | Guangzhou KingTeller vs. Shenzhen Zqgame |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |