Correlation Between Kimco Realty and Kimco Realty
Can any of the company-specific risk be diversified away by investing in both Kimco Realty and Kimco Realty 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 Kimco Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kimco Realty and Kimco Realty, you can compare the effects of market volatilities on Kimco Realty and Kimco Realty 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 Kimco Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kimco Realty and Kimco Realty.
Diversification Opportunities for Kimco Realty and Kimco Realty
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kimco and Kimco is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Kimco Realty and Kimco Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kimco Realty 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 Kimco Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kimco Realty has no effect on the direction of Kimco Realty i.e., Kimco Realty and Kimco Realty go up and down completely randomly.
Pair Corralation between Kimco Realty and Kimco Realty
Assuming the 90 days trading horizon Kimco Realty is expected to under-perform the Kimco Realty. In addition to that, Kimco Realty is 2.11 times more volatile than Kimco Realty. It trades about -0.36 of its total potential returns per unit of risk. Kimco Realty is currently generating about -0.12 per unit of volatility. If you would invest 6,250 in Kimco Realty on September 13, 2024 and sell it today you would lose (50.00) from holding Kimco Realty or give up 0.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kimco Realty vs. Kimco Realty
Performance |
| Timeline |
| Kimco Realty |
| Kimco Realty |
Kimco Realty and Kimco Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kimco Realty and Kimco Realty
The main advantage of trading using opposite Kimco Realty and Kimco Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kimco Realty position performs unexpectedly, Kimco Realty 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 Realty will offset losses from the drop in Kimco Realty's long position.| Kimco Realty vs. Simon Property Group | Kimco Realty vs. Saul Centers | Kimco Realty vs. Rithm Property Trust | Kimco Realty vs. Urban Edge Properties |
| Kimco Realty vs. Hawkins | Kimco Realty vs. Chemours Co | Kimco Realty vs. Universal | Kimco Realty vs. The Mosaic |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |