Correlation Between Citizens Bancorp and Kite Realty
Can any of the company-specific risk be diversified away by investing in both Citizens Bancorp and Kite Realty 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 Citizens Bancorp and Kite Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citizens Bancorp Investment and Kite Realty Group, you can compare the effects of market volatilities on Citizens Bancorp and Kite Realty 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 Citizens Bancorp with a short position of Kite Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens Bancorp and Kite Realty.
Diversification Opportunities for Citizens Bancorp and Kite Realty
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Citizens and Kite is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Citizens Bancorp Investment and Kite Realty Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kite Realty Group and Citizens Bancorp 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 Citizens Bancorp Investment are associated (or correlated) with Kite Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kite Realty Group has no effect on the direction of Citizens Bancorp i.e., Citizens Bancorp and Kite Realty go up and down completely randomly.
Pair Corralation between Citizens Bancorp and Kite Realty
Given the investment horizon of 90 days Citizens Bancorp Investment is expected to under-perform the Kite Realty. But the otc stock apears to be less risky and, when comparing its historical volatility, Citizens Bancorp Investment is 1.04 times less risky than Kite Realty. The otc stock trades about -0.05 of its potential returns per unit of risk. The Kite Realty Group is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,997 in Kite Realty Group on August 30, 2024 and sell it today you would earn a total of 788.00 from holding Kite Realty Group or generate 39.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Citizens Bancorp Investment vs. Kite Realty Group
Performance |
| Timeline |
| Citizens Bancorp Inv |
| Kite Realty Group |
Citizens Bancorp and Kite Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens Bancorp and Kite Realty
The main advantage of trading using opposite Citizens Bancorp and Kite Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens Bancorp position performs unexpectedly, Kite Realty 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 Kite Realty will offset losses from the drop in Kite Realty's long position.| Citizens Bancorp vs. Greenville Federal Financial | Citizens Bancorp vs. First Ottawa Bancshares | Citizens Bancorp vs. Coastal Carolina Bancshares | Citizens Bancorp vs. First Bankers Trustshares |
| Kite Realty vs. Site Centers Corp | Kite Realty vs. CBL Associates Properties | Kite Realty vs. Urban Edge Properties | Kite Realty vs. Acadia Realty 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |