Correlation Between Ainsworth Game and Kkr Credit
Can any of the company-specific risk be diversified away by investing in both Ainsworth Game and Kkr Credit 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 Ainsworth Game and Kkr Credit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ainsworth Game Technology and Kkr Credit Income, you can compare the effects of market volatilities on Ainsworth Game and Kkr Credit 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 Ainsworth Game with a short position of Kkr Credit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainsworth Game and Kkr Credit.
Diversification Opportunities for Ainsworth Game and Kkr Credit
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ainsworth and Kkr is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Ainsworth Game Technology and Kkr Credit Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kkr Credit Income and Ainsworth Game 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 Ainsworth Game Technology are associated (or correlated) with Kkr Credit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kkr Credit Income has no effect on the direction of Ainsworth Game i.e., Ainsworth Game and Kkr Credit go up and down completely randomly.
Pair Corralation between Ainsworth Game and Kkr Credit
Assuming the 90 days trading horizon Ainsworth Game Technology is expected to under-perform the Kkr Credit. In addition to that, Ainsworth Game is 4.55 times more volatile than Kkr Credit Income. It trades about -0.08 of its total potential returns per unit of risk. Kkr Credit Income is currently generating about -0.13 per unit of volatility. If you would invest 233.00 in Kkr Credit Income on August 25, 2024 and sell it today you would lose (4.00) from holding Kkr Credit Income or give up 1.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ainsworth Game Technology vs. Kkr Credit Income
Performance |
| Timeline |
| Ainsworth Game Technology |
| Kkr Credit Income |
Ainsworth Game and Kkr Credit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ainsworth Game and Kkr Credit
The main advantage of trading using opposite Ainsworth Game and Kkr Credit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainsworth Game position performs unexpectedly, Kkr Credit 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 Kkr Credit will offset losses from the drop in Kkr Credit's long position.| Ainsworth Game vs. Summit Resources Limited | Ainsworth Game vs. Ecofibre | Ainsworth Game vs. iShares Global Healthcare | Ainsworth Game vs. Adriatic Metals Plc |
| Kkr Credit vs. Srj Technologies Group | Kkr Credit vs. Regal Investment | Kkr Credit vs. Ainsworth Game Technology | Kkr Credit vs. Alternative Investment Trust |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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