Correlation Between Hasbro and KIMCO
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By analyzing existing cross correlation between Hasbro Inc and KIMCO RLTY P, you can compare the effects of market volatilities on Hasbro and KIMCO 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 Hasbro with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hasbro and KIMCO.
Diversification Opportunities for Hasbro and KIMCO
Good diversification
The 3 months correlation between Hasbro and KIMCO is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Hasbro Inc and KIMCO RLTY P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIMCO RLTY P and Hasbro 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 Hasbro Inc are associated (or correlated) with KIMCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIMCO RLTY P has no effect on the direction of Hasbro i.e., Hasbro and KIMCO go up and down completely randomly.
Pair Corralation between Hasbro and KIMCO
Considering the 90-day investment horizon Hasbro Inc is expected to generate 0.45 times more return on investment than KIMCO. However, Hasbro Inc is 2.2 times less risky than KIMCO. It trades about 0.16 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about -0.15 per unit of risk. If you would invest 6,270 in Hasbro Inc on September 13, 2024 and sell it today you would earn a total of 266.00 from holding Hasbro Inc or generate 4.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.38% |
| Values | Daily Returns |
Hasbro Inc vs. KIMCO RLTY P
Performance |
| Timeline |
| Hasbro Inc |
| KIMCO RLTY P |
Hasbro and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hasbro and KIMCO
The main advantage of trading using opposite Hasbro and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hasbro position performs unexpectedly, KIMCO 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 KIMCO will offset losses from the drop in KIMCO's long position.| Hasbro vs. Clarus Corp | Hasbro vs. Escalade Incorporated | Hasbro vs. Johnson Outdoors | Hasbro vs. JAKKS Pacific |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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