Correlation Between Panda Financial and Keeson Technology
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By analyzing existing cross correlation between Panda Financial Holding and Keeson Technology Corp, you can compare the effects of market volatilities on Panda Financial and Keeson Technology 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 Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Financial and Keeson Technology.
Diversification Opportunities for Panda Financial and Keeson Technology
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Panda and Keeson is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Panda Financial Holding and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp 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 Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Panda Financial i.e., Panda Financial and Keeson Technology go up and down completely randomly.
Pair Corralation between Panda Financial and Keeson Technology
Assuming the 90 days trading horizon Panda Financial Holding is expected to generate 1.09 times more return on investment than Keeson Technology. However, Panda Financial is 1.09 times more volatile than Keeson Technology Corp. It trades about 0.0 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.0 per unit of risk. If you would invest 1,305 in Panda Financial Holding on November 2, 2024 and sell it today you would lose (182.00) from holding Panda Financial Holding or give up 13.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Financial Holding vs. Keeson Technology Corp
Performance |
| Timeline |
| Panda Financial Holding |
| Keeson Technology Corp |
Panda Financial and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Financial and Keeson Technology
The main advantage of trading using opposite Panda Financial and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Financial position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology'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 |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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