Correlation Between KENEDIX OFFICE and Hapag Lloyd
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By analyzing existing cross correlation between KENEDIX OFFICE INV and Hapag Lloyd AG, you can compare the effects of market volatilities on KENEDIX OFFICE and Hapag Lloyd 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 KENEDIX OFFICE with a short position of Hapag Lloyd. Check out your portfolio center. Please also check ongoing floating volatility patterns of KENEDIX OFFICE and Hapag Lloyd.
Diversification Opportunities for KENEDIX OFFICE and Hapag Lloyd
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between KENEDIX and Hapag is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding KENEDIX OFFICE INV and Hapag Lloyd AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hapag Lloyd AG and KENEDIX OFFICE 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 KENEDIX OFFICE INV are associated (or correlated) with Hapag Lloyd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hapag Lloyd AG has no effect on the direction of KENEDIX OFFICE i.e., KENEDIX OFFICE and Hapag Lloyd go up and down completely randomly.
Pair Corralation between KENEDIX OFFICE and Hapag Lloyd
Assuming the 90 days horizon KENEDIX OFFICE INV is expected to generate 0.51 times more return on investment than Hapag Lloyd. However, KENEDIX OFFICE INV is 1.96 times less risky than Hapag Lloyd. It trades about 0.17 of its potential returns per unit of risk. Hapag Lloyd AG is currently generating about -0.14 per unit of risk. If you would invest 86,000 in KENEDIX OFFICE INV on September 4, 2024 and sell it today you would earn a total of 5,000 from holding KENEDIX OFFICE INV or generate 5.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
KENEDIX OFFICE INV vs. Hapag Lloyd AG
Performance |
| Timeline |
| KENEDIX OFFICE INV |
| Hapag Lloyd AG |
KENEDIX OFFICE and Hapag Lloyd Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KENEDIX OFFICE and Hapag Lloyd
The main advantage of trading using opposite KENEDIX OFFICE and Hapag Lloyd positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KENEDIX OFFICE position performs unexpectedly, Hapag Lloyd 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 Hapag Lloyd will offset losses from the drop in Hapag Lloyd's long position.| KENEDIX OFFICE vs. Apple Inc | KENEDIX OFFICE vs. Apple Inc | KENEDIX OFFICE vs. Apple Inc | KENEDIX OFFICE vs. Apple Inc |
| Hapag Lloyd vs. Virtus Investment Partners | Hapag Lloyd vs. CARSALESCOM | Hapag Lloyd vs. Gladstone Investment | Hapag Lloyd vs. GRUPO CARSO A1 |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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