Correlation Between Green Panda and Plaza Retail

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Can any of the company-specific risk be diversified away by investing in both Green Panda and Plaza Retail at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Green Panda and Plaza Retail into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Green Panda Capital and Plaza Retail REIT, you can compare the effects of market volatilities on Green Panda and Plaza Retail 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 Green Panda with a short position of Plaza Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Green Panda and Plaza Retail.

Diversification Opportunities for Green Panda and Plaza Retail

GreenPlazaDiversified AwayGreenPlazaDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Green and Plaza is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Green Panda Capital and Plaza Retail REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Plaza Retail REIT and Green Panda 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 Green Panda Capital are associated (or correlated) with Plaza Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Plaza Retail REIT has no effect on the direction of Green Panda i.e., Green Panda and Plaza Retail go up and down completely randomly.

Pair Corralation between Green Panda and Plaza Retail

If you would invest  353.00  in Plaza Retail REIT on November 21, 2024 and sell it today you would earn a total of  13.00  from holding Plaza Retail REIT or generate 3.68% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Green Panda Capital  vs.  Plaza Retail REIT

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -6-5-4-3-2-10
JavaScript chart by amCharts 3.21.15GPCC-P PLZ-UN
       Timeline  
Green Panda Capital 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Green Panda Capital has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Green Panda is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.0750.0755
Plaza Retail REIT 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Plaza Retail REIT has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Plaza Retail is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb3.53.553.63.653.73.75

Green Panda and Plaza Retail Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.10.20.30.4
JavaScript chart by amCharts 3.21.15GPCC-P PLZ-UN
       Returns  

Pair Trading with Green Panda and Plaza Retail

The main advantage of trading using opposite Green Panda and Plaza Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Green Panda position performs unexpectedly, Plaza Retail 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 Plaza Retail will offset losses from the drop in Plaza Retail's long position.
The idea behind Green Panda Capital and Plaza Retail REIT pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Stocks Directory module to find actively traded stocks across global markets.

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