Correlation Between Kimco Realty and VELA TECHNOLPLC
Can any of the company-specific risk be diversified away by investing in both Kimco Realty and VELA TECHNOLPLC 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 Kimco Realty and VELA TECHNOLPLC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kimco Realty and VELA TECHNOLPLC LS 0001, you can compare the effects of market volatilities on Kimco Realty and VELA TECHNOLPLC 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 Kimco Realty with a short position of VELA TECHNOLPLC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kimco Realty and VELA TECHNOLPLC.
Diversification Opportunities for Kimco Realty and VELA TECHNOLPLC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kimco and VELA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kimco Realty and VELA TECHNOLPLC LS 0001 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VELA TECHNOLPLC LS and Kimco Realty 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 Kimco Realty are associated (or correlated) with VELA TECHNOLPLC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VELA TECHNOLPLC LS has no effect on the direction of Kimco Realty i.e., Kimco Realty and VELA TECHNOLPLC go up and down completely randomly.
Pair Corralation between Kimco Realty and VELA TECHNOLPLC
If you would invest 2,140 in Kimco Realty on November 5, 2024 and sell it today you would earn a total of 20.00 from holding Kimco Realty or generate 0.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Kimco Realty vs. VELA TECHNOLPLC LS 0001
Performance |
| Timeline |
| Kimco Realty |
| VELA TECHNOLPLC LS |
Kimco Realty and VELA TECHNOLPLC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kimco Realty and VELA TECHNOLPLC
The main advantage of trading using opposite Kimco Realty and VELA TECHNOLPLC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kimco Realty position performs unexpectedly, VELA TECHNOLPLC 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 VELA TECHNOLPLC will offset losses from the drop in VELA TECHNOLPLC's long position.| Kimco Realty vs. Aegean Airlines SA | Kimco Realty vs. BJs Restaurants | Kimco Realty vs. Telecom Argentina SA | Kimco Realty vs. SOUTHWEST AIRLINES |
| VELA TECHNOLPLC vs. ScanSource | VELA TECHNOLPLC vs. OPKO HEALTH | VELA TECHNOLPLC vs. Lendlease Group | VELA TECHNOLPLC vs. CVS Health |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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