Correlation Between Kaltura and Figs
Can any of the company-specific risk be diversified away by investing in both Kaltura and Figs 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 Figs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Figs Inc, you can compare the effects of market volatilities on Kaltura and Figs 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 Figs. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Figs.
Diversification Opportunities for Kaltura and Figs
Pay attention - limited upside
The 3 months correlation between Kaltura and Figs is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Figs Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Figs Inc 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 Figs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Figs Inc has no effect on the direction of Kaltura i.e., Kaltura and Figs go up and down completely randomly.
Pair Corralation between Kaltura and Figs
Given the investment horizon of 90 days Kaltura is expected to generate 0.93 times more return on investment than Figs. However, Kaltura is 1.07 times less risky than Figs. It trades about 0.04 of its potential returns per unit of risk. Figs Inc is currently generating about 0.01 per unit of risk. If you would invest 162.00 in Kaltura on September 12, 2024 and sell it today you would earn a total of 73.00 from holding Kaltura or generate 45.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaltura vs. Figs Inc
Performance |
| Timeline |
| Kaltura |
| Figs Inc |
Kaltura and Figs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Figs
The main advantage of trading using opposite Kaltura and Figs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Figs 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 Figs will offset losses from the drop in Figs' long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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