Correlation Between Kaltura and EMERA
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By analyzing existing cross correlation between Kaltura and EMERA FIN LP, you can compare the effects of market volatilities on Kaltura and EMERA 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 EMERA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and EMERA.
Diversification Opportunities for Kaltura and EMERA
Excellent diversification
The 3 months correlation between Kaltura and EMERA is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and EMERA FIN LP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EMERA FIN LP 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 EMERA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EMERA FIN LP has no effect on the direction of Kaltura i.e., Kaltura and EMERA go up and down completely randomly.
Pair Corralation between Kaltura and EMERA
Given the investment horizon of 90 days Kaltura is expected to generate 18.89 times less return on investment than EMERA. But when comparing it to its historical volatility, Kaltura is 12.79 times less risky than EMERA. It trades about 0.03 of its potential returns per unit of risk. EMERA FIN LP is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 8,281 in EMERA FIN LP on September 2, 2024 and sell it today you would lose (835.00) from holding EMERA FIN LP or give up 10.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.93% |
| Values | Daily Returns |
Kaltura vs. EMERA FIN LP
Performance |
| Timeline |
| Kaltura |
| EMERA FIN LP |
Kaltura and EMERA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and EMERA
The main advantage of trading using opposite Kaltura and EMERA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, EMERA 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 EMERA will offset losses from the drop in EMERA's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| EMERA vs. Grupo Televisa SAB | EMERA vs. Kaltura | EMERA vs. SmartStop Self Storage | EMERA vs. Iridium Communications |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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