Panic however conjures up a sense of paralysis, that moment before all hell breaks loose! The opposite of panic is;; 'Collected'; a far more useful state in which to inhabit. Cool calm and collected usually precedes effective decision making and its first cousin - ACTION.
It is rare that Panic is appropriate or of any benefit to us. Seconds prior to heading over the Niagara Falls or your imminent personal armageddon, perhaps justifies a moment of indulgence though truth be told most of us default into this state well before all hope is lost.
One of my favourite quotes is quite apt:
"Between stimulus and response there is a space. In that space is our power to choose our response. In that response lies our growth and our freedom" Victor E. Frankl
The operative word is choose. Panic is reactive, most other states of mind are preferable.