Correlation Between Kaltura and NUCOR
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By analyzing existing cross correlation between Kaltura and NUCOR P 52, you can compare the effects of market volatilities on Kaltura and NUCOR 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 NUCOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and NUCOR.
Diversification Opportunities for Kaltura and NUCOR
Significant diversification
The 3 months correlation between Kaltura and NUCOR is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and NUCOR P 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NUCOR P 52 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 NUCOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NUCOR P 52 has no effect on the direction of Kaltura i.e., Kaltura and NUCOR go up and down completely randomly.
Pair Corralation between Kaltura and NUCOR
Given the investment horizon of 90 days Kaltura is expected to generate 2.67 times more return on investment than NUCOR. However, Kaltura is 2.67 times more volatile than NUCOR P 52. It trades about 0.17 of its potential returns per unit of risk. NUCOR P 52 is currently generating about 0.11 per unit of risk. If you would invest 209.00 in Kaltura on September 13, 2024 and sell it today you would earn a total of 25.00 from holding Kaltura or generate 11.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 22.73% |
| Values | Daily Returns |
Kaltura vs. NUCOR P 52
Performance |
| Timeline |
| Kaltura |
| NUCOR P 52 |
Kaltura and NUCOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and NUCOR
The main advantage of trading using opposite Kaltura and NUCOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, NUCOR 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 NUCOR will offset losses from the drop in NUCOR's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| NUCOR vs. Valneva SE ADR | NUCOR vs. East Africa Metals | NUCOR vs. Nuvalent | NUCOR vs. Red Branch Technologies |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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