Correlation Between Kkr Credit and Ainsworth Game
Can any of the company-specific risk be diversified away by investing in both Kkr Credit and Ainsworth Game 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 Kkr Credit and Ainsworth Game into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kkr Credit Income and Ainsworth Game Technology, you can compare the effects of market volatilities on Kkr Credit and Ainsworth Game 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 Kkr Credit with a short position of Ainsworth Game. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kkr Credit and Ainsworth Game.
Diversification Opportunities for Kkr Credit and Ainsworth Game
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kkr and Ainsworth is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Kkr Credit Income and Ainsworth Game Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ainsworth Game Technology and Kkr Credit 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 Kkr Credit Income are associated (or correlated) with Ainsworth Game. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ainsworth Game Technology has no effect on the direction of Kkr Credit i.e., Kkr Credit and Ainsworth Game go up and down completely randomly.
Pair Corralation between Kkr Credit and Ainsworth Game
Assuming the 90 days trading horizon Kkr Credit Income is expected to generate 0.26 times more return on investment than Ainsworth Game. However, Kkr Credit Income is 3.9 times less risky than Ainsworth Game. It trades about -0.03 of its potential returns per unit of risk. Ainsworth Game Technology is currently generating about -0.19 per unit of risk. If you would invest 235.00 in Kkr Credit Income on November 5, 2024 and sell it today you would lose (1.00) from holding Kkr Credit Income or give up 0.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kkr Credit Income vs. Ainsworth Game Technology
Performance |
| Timeline |
| Kkr Credit Income |
| Ainsworth Game Technology |
Kkr Credit and Ainsworth Game Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kkr Credit and Ainsworth Game
The main advantage of trading using opposite Kkr Credit and Ainsworth Game positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kkr Credit position performs unexpectedly, Ainsworth Game 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 Ainsworth Game will offset losses from the drop in Ainsworth Game's long position.| Kkr Credit vs. Sky Metals | Kkr Credit vs. M3 Mining | Kkr Credit vs. Andean Silver Limited | Kkr Credit vs. National Storage REIT |
| Ainsworth Game vs. Audio Pixels Holdings | Ainsworth Game vs. Iodm | Ainsworth Game vs. Nsx | Ainsworth Game vs. TTG Fintech |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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