Correlation Between Entegris and KBS Real
Can any of the company-specific risk be diversified away by investing in both Entegris and KBS Real 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 Entegris and KBS Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Entegris and KBS Real Estate, you can compare the effects of market volatilities on Entegris and KBS Real 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 Entegris with a short position of KBS Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Entegris and KBS Real.
Diversification Opportunities for Entegris and KBS Real
Pay attention - limited upside
The 3 months correlation between Entegris and KBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Entegris and KBS Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KBS Real Estate and Entegris 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 Entegris are associated (or correlated) with KBS Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KBS Real Estate has no effect on the direction of Entegris i.e., Entegris and KBS Real go up and down completely randomly.
Pair Corralation between Entegris and KBS Real
If you would invest 10,492 in Entegris on September 14, 2024 and sell it today you would earn a total of 174.00 from holding Entegris or generate 1.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.37% |
| Values | Daily Returns |
Entegris vs. KBS Real Estate
Performance |
| Timeline |
| Entegris |
| KBS Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Entegris and KBS Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Entegris and KBS Real
The main advantage of trading using opposite Entegris and KBS Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Entegris position performs unexpectedly, KBS Real 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 KBS Real will offset losses from the drop in KBS Real's long position.| Entegris vs. Teradyne | Entegris vs. Ichor Holdings | Entegris vs. Amtech Systems | Entegris vs. Veeco Instruments |
| KBS Real vs. Cheniere Energy Partners | KBS Real vs. Western Midstream Partners | KBS Real vs. Analog Devices | KBS Real vs. Aris Water Solutions |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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