Correlation Between Panda Financial and Jiangsu Hoperun
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By analyzing existing cross correlation between Panda Financial Holding and Jiangsu Hoperun Software, you can compare the effects of market volatilities on Panda Financial and Jiangsu Hoperun 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 Jiangsu Hoperun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Financial and Jiangsu Hoperun.
Diversification Opportunities for Panda Financial and Jiangsu Hoperun
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Panda and Jiangsu is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Panda Financial Holding and Jiangsu Hoperun Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Hoperun Software 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 Jiangsu Hoperun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Hoperun Software has no effect on the direction of Panda Financial i.e., Panda Financial and Jiangsu Hoperun go up and down completely randomly.
Pair Corralation between Panda Financial and Jiangsu Hoperun
Assuming the 90 days trading horizon Panda Financial is expected to generate 12.23 times less return on investment than Jiangsu Hoperun. But when comparing it to its historical volatility, Panda Financial Holding is 1.51 times less risky than Jiangsu Hoperun. It trades about 0.01 of its potential returns per unit of risk. Jiangsu Hoperun Software is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,059 in Jiangsu Hoperun Software on October 16, 2024 and sell it today you would earn a total of 2,508 from holding Jiangsu Hoperun Software or generate 121.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Financial Holding vs. Jiangsu Hoperun Software
Performance |
| Timeline |
| Panda Financial Holding |
| Jiangsu Hoperun Software |
Panda Financial and Jiangsu Hoperun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Financial and Jiangsu Hoperun
The main advantage of trading using opposite Panda Financial and Jiangsu Hoperun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Financial position performs unexpectedly, Jiangsu Hoperun 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 Jiangsu Hoperun will offset losses from the drop in Jiangsu Hoperun's long position.| Panda Financial vs. Yankershop Food Co | Panda Financial vs. Great Sun Foods Co | Panda Financial vs. Ningbo Fangzheng Automobile | Panda Financial vs. Sinomach Automobile Co |
| Jiangsu Hoperun vs. Xinya Electronic Co | Jiangsu Hoperun vs. Leyard Optoelectronic | Jiangsu Hoperun vs. Cicc Fund Management | Jiangsu Hoperun vs. Lootom Telcovideo Network |
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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