Correlation Between FUYO GENERAL and KTL GLOBAL
Can any of the company-specific risk be diversified away by investing in both FUYO GENERAL and KTL GLOBAL 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 FUYO GENERAL and KTL GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FUYO GENERAL LEASE and KTL GLOBAL, you can compare the effects of market volatilities on FUYO GENERAL and KTL GLOBAL 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 FUYO GENERAL with a short position of KTL GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of FUYO GENERAL and KTL GLOBAL.
Diversification Opportunities for FUYO GENERAL and KTL GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FUYO and KTL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FUYO GENERAL LEASE and KTL GLOBAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTL GLOBAL and FUYO GENERAL 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 FUYO GENERAL LEASE are associated (or correlated) with KTL GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTL GLOBAL has no effect on the direction of FUYO GENERAL i.e., FUYO GENERAL and KTL GLOBAL go up and down completely randomly.
Pair Corralation between FUYO GENERAL and KTL GLOBAL
If you would invest 6,650 in FUYO GENERAL LEASE on September 13, 2024 and sell it today you would earn a total of 250.00 from holding FUYO GENERAL LEASE or generate 3.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FUYO GENERAL LEASE vs. KTL GLOBAL
Performance |
| Timeline |
| FUYO GENERAL LEASE |
| KTL GLOBAL |
FUYO GENERAL and KTL GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FUYO GENERAL and KTL GLOBAL
The main advantage of trading using opposite FUYO GENERAL and KTL GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FUYO GENERAL position performs unexpectedly, KTL GLOBAL 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 KTL GLOBAL will offset losses from the drop in KTL GLOBAL's long position.| FUYO GENERAL vs. United Rentals | FUYO GENERAL vs. WillScot Mobile Mini | FUYO GENERAL vs. Superior Plus Corp | FUYO GENERAL vs. SIVERS SEMICONDUCTORS AB |
| KTL GLOBAL vs. FUYO GENERAL LEASE | KTL GLOBAL vs. COFCO Joycome Foods | KTL GLOBAL vs. Laureate Education | KTL GLOBAL vs. DEVRY EDUCATION GRP |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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