Correlation Between Kaltura and NORDSTROM
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By analyzing existing cross correlation between Kaltura and NORDSTROM INC 695, you can compare the effects of market volatilities on Kaltura and NORDSTROM 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 NORDSTROM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and NORDSTROM.
Diversification Opportunities for Kaltura and NORDSTROM
Average diversification
The 3 months correlation between Kaltura and NORDSTROM is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and NORDSTROM INC 695 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NORDSTROM INC 695 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 NORDSTROM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NORDSTROM INC 695 has no effect on the direction of Kaltura i.e., Kaltura and NORDSTROM go up and down completely randomly.
Pair Corralation between Kaltura and NORDSTROM
Given the investment horizon of 90 days Kaltura is expected to generate 4.65 times more return on investment than NORDSTROM. However, Kaltura is 4.65 times more volatile than NORDSTROM INC 695. It trades about 0.03 of its potential returns per unit of risk. NORDSTROM INC 695 is currently generating about 0.01 per unit of risk. If you would invest 182.00 in Kaltura on November 27, 2024 and sell it today you would earn a total of 31.00 from holding Kaltura or generate 17.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
Kaltura vs. NORDSTROM INC 695
Performance |
| Timeline |
| Kaltura |
| NORDSTROM INC 695 |
Kaltura and NORDSTROM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and NORDSTROM
The main advantage of trading using opposite Kaltura and NORDSTROM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, NORDSTROM 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 NORDSTROM will offset losses from the drop in NORDSTROM's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| NORDSTROM vs. Integrated Media Technology | NORDSTROM vs. EastGroup Properties | NORDSTROM vs. Inflection Point Acquisition | NORDSTROM vs. Nasdaq Inc |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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