Correlation Between K Bro and Maximus
Can any of the company-specific risk be diversified away by investing in both K Bro and Maximus 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 K Bro and Maximus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between K Bro Linen and Maximus, you can compare the effects of market volatilities on K Bro and Maximus 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 K Bro with a short position of Maximus. Check out your portfolio center. Please also check ongoing floating volatility patterns of K Bro and Maximus.
Diversification Opportunities for K Bro and Maximus
Pay attention - limited upside
The 3 months correlation between KBRLF and Maximus is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding K Bro Linen and Maximus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maximus and K Bro 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 K Bro Linen are associated (or correlated) with Maximus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maximus has no effect on the direction of K Bro i.e., K Bro and Maximus go up and down completely randomly.
Pair Corralation between K Bro and Maximus
If you would invest 6,434 in Maximus on January 1, 2025 and sell it today you would earn a total of 396.00 from holding Maximus or generate 6.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
K Bro Linen vs. Maximus
Performance |
| Timeline |
| K Bro Linen |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Maximus |
K Bro and Maximus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with K Bro and Maximus
The main advantage of trading using opposite K Bro and Maximus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if K Bro position performs unexpectedly, Maximus 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 Maximus will offset losses from the drop in Maximus' long position.| K Bro vs. Brambles Ltd ADR | ||
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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