Correlation Between Kaltura and Genfit
Can any of the company-specific risk be diversified away by investing in both Kaltura and Genfit 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 Genfit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Genfit, you can compare the effects of market volatilities on Kaltura and Genfit 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 Genfit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Genfit.
Diversification Opportunities for Kaltura and Genfit
Very good diversification
The 3 months correlation between Kaltura and Genfit is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Genfit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genfit 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 Genfit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genfit has no effect on the direction of Kaltura i.e., Kaltura and Genfit go up and down completely randomly.
Pair Corralation between Kaltura and Genfit
Given the investment horizon of 90 days Kaltura is expected to generate 1.66 times more return on investment than Genfit. However, Kaltura is 1.66 times more volatile than Genfit. It trades about 0.5 of its potential returns per unit of risk. Genfit is currently generating about -0.46 per unit of risk. If you would invest 134.00 in Kaltura on September 5, 2024 and sell it today you would earn a total of 104.00 from holding Kaltura or generate 77.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaltura vs. Genfit
Performance |
| Timeline |
| Kaltura |
| Genfit |
Kaltura and Genfit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Genfit
The main advantage of trading using opposite Kaltura and Genfit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Genfit 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 Genfit will offset losses from the drop in Genfit's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| Genfit vs. Candel Therapeutics | Genfit vs. Cingulate Warrants | Genfit vs. Unicycive Therapeutics | Genfit vs. Cardio Diagnostics Holdings |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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