Correlation Between Kaltura and Air Lease
Can any of the company-specific risk be diversified away by investing in both Kaltura and Air Lease 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 Kaltura and Air Lease into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Air Lease, you can compare the effects of market volatilities on Kaltura and Air Lease 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 Kaltura with a short position of Air Lease. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Air Lease.
Diversification Opportunities for Kaltura and Air Lease
Almost no diversification
The 3 months correlation between Kaltura and Air is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Air Lease in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Air Lease and Kaltura 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 Kaltura are associated (or correlated) with Air Lease. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Air Lease has no effect on the direction of Kaltura i.e., Kaltura and Air Lease go up and down completely randomly.
Pair Corralation between Kaltura and Air Lease
Given the investment horizon of 90 days Kaltura is expected to generate 2.07 times more return on investment than Air Lease. However, Kaltura is 2.07 times more volatile than Air Lease. It trades about 0.03 of its potential returns per unit of risk. Air Lease is currently generating about 0.04 per unit of risk. If you would invest 186.00 in Kaltura on September 3, 2024 and sell it today you would earn a total of 36.00 from holding Kaltura or generate 19.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaltura vs. Air Lease
Performance |
| Timeline |
| Kaltura |
| Air Lease |
Kaltura and Air Lease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Air Lease
The main advantage of trading using opposite Kaltura and Air Lease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Air Lease 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 Air Lease will offset losses from the drop in Air Lease's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| Air Lease vs. Alta Equipment Group | Air Lease vs. McGrath RentCorp | Air Lease vs. Herc Holdings | Air Lease vs. HE Equipment Services |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |