Correlation Between Panda Financial and Qilu Bank
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By analyzing existing cross correlation between Panda Financial Holding and Qilu Bank Co, you can compare the effects of market volatilities on Panda Financial and Qilu Bank 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 Qilu Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Financial and Qilu Bank.
Diversification Opportunities for Panda Financial and Qilu Bank
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Panda and Qilu is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Panda Financial Holding and Qilu Bank Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qilu Bank 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 Qilu Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qilu Bank has no effect on the direction of Panda Financial i.e., Panda Financial and Qilu Bank go up and down completely randomly.
Pair Corralation between Panda Financial and Qilu Bank
Assuming the 90 days trading horizon Panda Financial is expected to generate 1.1 times less return on investment than Qilu Bank. In addition to that, Panda Financial is 1.49 times more volatile than Qilu Bank Co. It trades about 0.05 of its total potential returns per unit of risk. Qilu Bank Co is currently generating about 0.09 per unit of volatility. If you would invest 401.00 in Qilu Bank Co on November 3, 2024 and sell it today you would earn a total of 177.00 from holding Qilu Bank Co or generate 44.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Financial Holding vs. Qilu Bank Co
Performance |
| Timeline |
| Panda Financial Holding |
| Qilu Bank |
Panda Financial and Qilu Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Financial and Qilu Bank
The main advantage of trading using opposite Panda Financial and Qilu Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Financial position performs unexpectedly, Qilu Bank 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 Qilu Bank will offset losses from the drop in Qilu Bank's long position.| Panda Financial vs. Industrial and Commercial | Panda Financial vs. Agricultural Bank of | Panda Financial vs. China Construction Bank | Panda Financial vs. Bank of China |
| Qilu Bank vs. Hangzhou Zhongya Machinery | Qilu Bank vs. Huasi Agricultural Development | Qilu Bank vs. Suzhou Oriental Semiconductor | Qilu Bank vs. Shantui Construction Machinery |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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