Correlation Between Anji Foodstuff and Panda Financial
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By analyzing existing cross correlation between Anji Foodstuff Co and Panda Financial Holding, you can compare the effects of market volatilities on Anji Foodstuff and Panda Financial 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 Anji Foodstuff with a short position of Panda Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Panda Financial.
Diversification Opportunities for Anji Foodstuff and Panda Financial
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anji and Panda is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Panda Financial Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Panda Financial Holding and Anji Foodstuff 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 Anji Foodstuff Co are associated (or correlated) with Panda Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Panda Financial Holding has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Panda Financial go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Panda Financial
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 1.04 times more return on investment than Panda Financial. However, Anji Foodstuff is 1.04 times more volatile than Panda Financial Holding. It trades about 0.06 of its potential returns per unit of risk. Panda Financial Holding is currently generating about 0.05 per unit of risk. 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 |
Anji Foodstuff Co vs. Panda Financial Holding
Performance |
| Timeline |
| Anji Foodstuff |
| Panda Financial Holding |
Anji Foodstuff and Panda Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Panda Financial
The main advantage of trading using opposite Anji Foodstuff and Panda Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Panda Financial 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 Panda Financial will offset losses from the drop in Panda Financial's long position.| Anji Foodstuff vs. Beijing Enlight Media | Anji Foodstuff vs. Kingclean Electric Co | Anji Foodstuff vs. Mango Excellent Media | Anji Foodstuff vs. Omnijoi Media Corp |
| 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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