Correlation Between Kutxabank Bolsa and Dow Jones
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By analyzing existing cross correlation between Kutxabank Bolsa Global and Dow Jones Industrial, you can compare the effects of market volatilities on Kutxabank Bolsa and Dow Jones 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 Kutxabank Bolsa with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kutxabank Bolsa and Dow Jones.
Diversification Opportunities for Kutxabank Bolsa and Dow Jones
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kutxabank and Dow is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Kutxabank Bolsa Global and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Kutxabank Bolsa 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 Kutxabank Bolsa Global are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Kutxabank Bolsa i.e., Kutxabank Bolsa and Dow Jones go up and down completely randomly.
Pair Corralation between Kutxabank Bolsa and Dow Jones
Assuming the 90 days trading horizon Kutxabank Bolsa Global is expected to generate 0.68 times more return on investment than Dow Jones. However, Kutxabank Bolsa Global is 1.46 times less risky than Dow Jones. It trades about 0.24 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.02 per unit of risk. If you would invest 1,077 in Kutxabank Bolsa Global on September 15, 2024 and sell it today you would earn a total of 20.00 from holding Kutxabank Bolsa Global or generate 1.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kutxabank Bolsa Global vs. Dow Jones Industrial
Performance |
| Timeline |
Kutxabank Bolsa and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Kutxabank Bolsa Global
Pair trading matchups for Kutxabank Bolsa
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Kutxabank Bolsa and Dow Jones
The main advantage of trading using opposite Kutxabank Bolsa and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kutxabank Bolsa position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Kutxabank Bolsa vs. Myinvestor Indexado Global | Kutxabank Bolsa vs. CI Global Alpha | Kutxabank Bolsa vs. Cobas Mixto Global | Kutxabank Bolsa vs. BK Variable Internacional |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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