Correlation Between Kaltura and Kura Sushi
Can any of the company-specific risk be diversified away by investing in both Kaltura and Kura Sushi 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 Kura Sushi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Kura Sushi USA, you can compare the effects of market volatilities on Kaltura and Kura Sushi 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 Kura Sushi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Kura Sushi.
Diversification Opportunities for Kaltura and Kura Sushi
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kaltura and Kura is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Kura Sushi USA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kura Sushi USA 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 Kura Sushi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kura Sushi USA has no effect on the direction of Kaltura i.e., Kaltura and Kura Sushi go up and down completely randomly.
Pair Corralation between Kaltura and Kura Sushi
Given the investment horizon of 90 days Kaltura is expected to generate 1.24 times more return on investment than Kura Sushi. However, Kaltura is 1.24 times more volatile than Kura Sushi USA. It trades about 0.43 of its potential returns per unit of risk. Kura Sushi USA is currently generating about 0.09 per unit of risk. If you would invest 131.00 in Kaltura on August 29, 2024 and sell it today you would earn a total of 86.00 from holding Kaltura or generate 65.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaltura vs. Kura Sushi USA
Performance |
| Timeline |
| Kaltura |
| Kura Sushi USA |
Kaltura and Kura Sushi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Kura Sushi
The main advantage of trading using opposite Kaltura and Kura Sushi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Kura Sushi 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 Kura Sushi will offset losses from the drop in Kura Sushi's long position.The idea behind Kaltura and Kura Sushi USA pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Jack In The |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |