Correlation Between CI GAMES and Kilroy Realty
Can any of the company-specific risk be diversified away by investing in both CI GAMES and Kilroy 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 CI GAMES and Kilroy Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CI GAMES SA and Kilroy Realty Corp, you can compare the effects of market volatilities on CI GAMES and Kilroy 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 CI GAMES with a short position of Kilroy Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI GAMES and Kilroy Realty.
Diversification Opportunities for CI GAMES and Kilroy Realty
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CI7 and Kilroy is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding CI GAMES SA and Kilroy Realty Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kilroy Realty Corp and CI GAMES 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 CI GAMES SA are associated (or correlated) with Kilroy Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kilroy Realty Corp has no effect on the direction of CI GAMES i.e., CI GAMES and Kilroy Realty go up and down completely randomly.
Pair Corralation between CI GAMES and Kilroy Realty
Assuming the 90 days horizon CI GAMES SA is expected to generate 1.12 times more return on investment than Kilroy Realty. However, CI GAMES is 1.12 times more volatile than Kilroy Realty Corp. It trades about -0.15 of its potential returns per unit of risk. Kilroy Realty Corp is currently generating about -0.23 per unit of risk. If you would invest 36.00 in CI GAMES SA on January 8, 2025 and sell it today you would lose (4.00) from holding CI GAMES SA or give up 11.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI GAMES SA vs. Kilroy Realty Corp
Performance |
| Timeline |
| CI GAMES SA |
| Kilroy Realty Corp |
CI GAMES and Kilroy Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI GAMES and Kilroy Realty
The main advantage of trading using opposite CI GAMES and Kilroy Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI GAMES position performs unexpectedly, Kilroy 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 Kilroy Realty will offset losses from the drop in Kilroy Realty's long position.| CI GAMES vs. MINCO SILVER | CI GAMES vs. MCEWEN MINING INC | CI GAMES vs. Harmony Gold Mining | CI GAMES vs. MAGNUM MINING EXP |
| Kilroy Realty vs. Digital Realty Trust | Kilroy Realty vs. Japan Real Estate | Kilroy Realty vs. Mirvac Group | Kilroy Realty vs. SL Green Realty |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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