Correlation Between AAPICO Hitech and KTBST Mixed
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By analyzing existing cross correlation between AAPICO Hitech Public and KTBST Mixed Leasehold, you can compare the effects of market volatilities on AAPICO Hitech and KTBST Mixed 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 AAPICO Hitech with a short position of KTBST Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of AAPICO Hitech and KTBST Mixed.
Diversification Opportunities for AAPICO Hitech and KTBST Mixed
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AAPICO and KTBST is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding AAPICO Hitech Public and KTBST Mixed Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTBST Mixed Leasehold and AAPICO Hitech 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 AAPICO Hitech Public are associated (or correlated) with KTBST Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTBST Mixed Leasehold has no effect on the direction of AAPICO Hitech i.e., AAPICO Hitech and KTBST Mixed go up and down completely randomly.
Pair Corralation between AAPICO Hitech and KTBST Mixed
Assuming the 90 days horizon AAPICO Hitech Public is expected to under-perform the KTBST Mixed. In addition to that, AAPICO Hitech is 2.04 times more volatile than KTBST Mixed Leasehold. It trades about -0.07 of its total potential returns per unit of risk. KTBST Mixed Leasehold is currently generating about -0.08 per unit of volatility. If you would invest 615.00 in KTBST Mixed Leasehold on November 27, 2024 and sell it today you would lose (10.00) from holding KTBST Mixed Leasehold or give up 1.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AAPICO Hitech Public vs. KTBST Mixed Leasehold
Performance |
| Timeline |
| AAPICO Hitech Public |
| KTBST Mixed Leasehold |
AAPICO Hitech and KTBST Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AAPICO Hitech and KTBST Mixed
The main advantage of trading using opposite AAPICO Hitech and KTBST Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AAPICO Hitech position performs unexpectedly, KTBST Mixed 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 KTBST Mixed will offset losses from the drop in KTBST Mixed's long position.| AAPICO Hitech vs. S Hotels and | AAPICO Hitech vs. Asia Hotel Public | AAPICO Hitech vs. MFC Asset Management | AAPICO Hitech vs. Laguna Resorts Hotels |
| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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