Correlation Between Panda Financial and Anji Foodstuff
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By analyzing existing cross correlation between Panda Financial Holding and Anji Foodstuff Co, you can compare the effects of market volatilities on Panda Financial and Anji Foodstuff 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 Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Panda Financial and Anji Foodstuff.
Diversification Opportunities for Panda Financial and Anji Foodstuff
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Panda and Anji is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Panda Financial Holding and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff 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 Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of Panda Financial i.e., Panda Financial and Anji Foodstuff go up and down completely randomly.
Pair Corralation between Panda Financial and Anji Foodstuff
Assuming the 90 days trading horizon Panda Financial is expected to generate 1.09 times less return on investment than Anji Foodstuff. But when comparing it to its historical volatility, Panda Financial Holding is 1.04 times less risky than Anji Foodstuff. It trades about 0.05 of its potential returns per unit of risk. Anji Foodstuff Co is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 600.00 in Anji Foodstuff Co on November 3, 2024 and sell it today you would earn a total of 208.00 from holding Anji Foodstuff Co or generate 34.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Panda Financial Holding vs. Anji Foodstuff Co
Performance |
| Timeline |
| Panda Financial Holding |
| Anji Foodstuff |
Panda Financial and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Panda Financial and Anji Foodstuff
The main advantage of trading using opposite Panda Financial and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Panda Financial position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff'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 |
| Anji Foodstuff vs. Beijing Enlight Media | Anji Foodstuff vs. Kingclean Electric Co | Anji Foodstuff vs. Mango Excellent Media | Anji Foodstuff vs. Omnijoi Media Corp |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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