Correlation Between BK Variable and Kutxabank Bolsa
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By analyzing existing cross correlation between BK Variable Internacional and Kutxabank Bolsa Global, you can compare the effects of market volatilities on BK Variable and Kutxabank Bolsa 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 BK Variable with a short position of Kutxabank Bolsa. Check out your portfolio center. Please also check ongoing floating volatility patterns of BK Variable and Kutxabank Bolsa.
Diversification Opportunities for BK Variable and Kutxabank Bolsa
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between 0P0000120T and Kutxabank is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding BK Variable Internacional and Kutxabank Bolsa Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kutxabank Bolsa Global and BK Variable 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 BK Variable Internacional are associated (or correlated) with Kutxabank Bolsa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kutxabank Bolsa Global has no effect on the direction of BK Variable i.e., BK Variable and Kutxabank Bolsa go up and down completely randomly.
Pair Corralation between BK Variable and Kutxabank Bolsa
Assuming the 90 days trading horizon BK Variable Internacional is expected to generate 1.53 times more return on investment than Kutxabank Bolsa. However, BK Variable is 1.53 times more volatile than Kutxabank Bolsa Global. It trades about 0.12 of its potential returns per unit of risk. Kutxabank Bolsa Global is currently generating about 0.12 per unit of risk. If you would invest 1,432 in BK Variable Internacional on September 14, 2024 and sell it today you would earn a total of 352.00 from holding BK Variable Internacional or generate 24.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.9% |
| Values | Daily Returns |
BK Variable Internacional vs. Kutxabank Bolsa Global
Performance |
| Timeline |
| BK Variable Internacional |
| Kutxabank Bolsa Global |
BK Variable and Kutxabank Bolsa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BK Variable and Kutxabank Bolsa
The main advantage of trading using opposite BK Variable and Kutxabank Bolsa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BK Variable position performs unexpectedly, Kutxabank Bolsa 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 Kutxabank Bolsa will offset losses from the drop in Kutxabank Bolsa's long position.| BK Variable vs. Metrovacesa SA | BK Variable vs. Elecnor SA | BK Variable vs. Mapfre | BK Variable vs. Amper SA |
| Kutxabank Bolsa vs. Myinvestor Indexado Global | Kutxabank Bolsa vs. CI Global Alpha | Kutxabank Bolsa vs. Cobas Mixto Global | Kutxabank Bolsa vs. BK Variable Internacional |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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