Correlation Between Aquagold International and FS KKR
Can any of the company-specific risk be diversified away by investing in both Aquagold International and FS KKR 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 Aquagold International and FS KKR into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aquagold International and FS KKR Capital, you can compare the effects of market volatilities on Aquagold International and FS KKR 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 Aquagold International with a short position of FS KKR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aquagold International and FS KKR.
Diversification Opportunities for Aquagold International and FS KKR
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aquagold and FSK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aquagold International and FS KKR Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FS KKR Capital and Aquagold International 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 Aquagold International are associated (or correlated) with FS KKR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FS KKR Capital has no effect on the direction of Aquagold International i.e., Aquagold International and FS KKR go up and down completely randomly.
Pair Corralation between Aquagold International and FS KKR
Given the investment horizon of 90 days Aquagold International is expected to under-perform the FS KKR. In addition to that, Aquagold International is 5.35 times more volatile than FS KKR Capital. It trades about 0.0 of its total potential returns per unit of risk. FS KKR Capital is currently generating about 0.11 per unit of volatility. If you would invest 1,523 in FS KKR Capital on August 27, 2024 and sell it today you would earn a total of 654.00 from holding FS KKR Capital or generate 42.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aquagold International vs. FS KKR Capital
Performance |
| Timeline |
| Aquagold International |
| FS KKR Capital |
Aquagold International and FS KKR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aquagold International and FS KKR
The main advantage of trading using opposite Aquagold International and FS KKR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aquagold International position performs unexpectedly, FS KKR 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 FS KKR will offset losses from the drop in FS KKR's long position.| Aquagold International vs. PepsiCo | Aquagold International vs. Coca Cola Consolidated | Aquagold International vs. Monster Beverage Corp | Aquagold International vs. Celsius Holdings |
| FS KKR vs. PowerUp Acquisition Corp | FS KKR vs. Aurora Innovation | FS KKR vs. HUMANA INC | FS KKR vs. Aquagold International |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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