Correlation Between INET Leasehold and KT Medical
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By analyzing existing cross correlation between INET Leasehold REIT and KT Medical Service, you can compare the effects of market volatilities on INET Leasehold and KT Medical 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 INET Leasehold with a short position of KT Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of INET Leasehold and KT Medical.
Diversification Opportunities for INET Leasehold and KT Medical
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INET and KTMS is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding INET Leasehold REIT and KT Medical Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KT Medical Service and INET Leasehold 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 INET Leasehold REIT are associated (or correlated) with KT Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KT Medical Service has no effect on the direction of INET Leasehold i.e., INET Leasehold and KT Medical go up and down completely randomly.
Pair Corralation between INET Leasehold and KT Medical
Assuming the 90 days trading horizon INET Leasehold REIT is expected to generate 0.3 times more return on investment than KT Medical. However, INET Leasehold REIT is 3.34 times less risky than KT Medical. It trades about 0.19 of its potential returns per unit of risk. KT Medical Service is currently generating about -0.14 per unit of risk. If you would invest 845.00 in INET Leasehold REIT on November 27, 2024 and sell it today you would earn a total of 30.00 from holding INET Leasehold REIT or generate 3.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INET Leasehold REIT vs. KT Medical Service
Performance |
| Timeline |
| INET Leasehold REIT |
| KT Medical Service |
INET Leasehold and KT Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INET Leasehold and KT Medical
The main advantage of trading using opposite INET Leasehold and KT Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INET Leasehold position performs unexpectedly, KT Medical 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 KT Medical will offset losses from the drop in KT Medical's long position.| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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