Correlation Between Kaltura and Regeneron Pharmaceuticals
Can any of the company-specific risk be diversified away by investing in both Kaltura and Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Regeneron Pharmaceuticals, you can compare the effects of market volatilities on Kaltura and Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Regeneron Pharmaceuticals.
Diversification Opportunities for Kaltura and Regeneron Pharmaceuticals
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kaltura and Regeneron is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Regeneron Pharmaceuticals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Regeneron Pharmaceuticals has no effect on the direction of Kaltura i.e., Kaltura and Regeneron Pharmaceuticals go up and down completely randomly.
Pair Corralation between Kaltura and Regeneron Pharmaceuticals
Given the investment horizon of 90 days Kaltura is expected to generate 3.2 times more return on investment than Regeneron Pharmaceuticals. However, Kaltura is 3.2 times more volatile than Regeneron Pharmaceuticals. It trades about 0.04 of its potential returns per unit of risk. Regeneron Pharmaceuticals is currently generating about -0.02 per unit of risk. If you would invest 185.00 in Kaltura on September 12, 2024 and sell it today you would earn a total of 46.00 from holding Kaltura or generate 24.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaltura vs. Regeneron Pharmaceuticals
Performance |
| Timeline |
| Kaltura |
| Regeneron Pharmaceuticals |
Kaltura and Regeneron Pharmaceuticals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Regeneron Pharmaceuticals
The main advantage of trading using opposite Kaltura and Regeneron Pharmaceuticals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals will offset losses from the drop in Regeneron Pharmaceuticals' long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| Regeneron Pharmaceuticals vs. Crispr Therapeutics AG | Regeneron Pharmaceuticals vs. Novo Nordisk AS | Regeneron Pharmaceuticals vs. Sarepta Therapeutics | Regeneron Pharmaceuticals vs. Intellia Therapeutics |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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