Correlation Between Kinetics Market and Global
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By analyzing existing cross correlation between Kinetics Market Opportunities and Global Payments 415, you can compare the effects of market volatilities on Kinetics Market and Global 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 Kinetics Market with a short position of Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinetics Market and Global.
Diversification Opportunities for Kinetics Market and Global
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kinetics and Global is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Market Opportunities and Global Payments 415 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Payments 415 and Kinetics Market 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 Kinetics Market Opportunities are associated (or correlated) with Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Payments 415 has no effect on the direction of Kinetics Market i.e., Kinetics Market and Global go up and down completely randomly.
Pair Corralation between Kinetics Market and Global
Assuming the 90 days horizon Kinetics Market Opportunities is expected to generate 1.73 times more return on investment than Global. However, Kinetics Market is 1.73 times more volatile than Global Payments 415. It trades about 0.26 of its potential returns per unit of risk. Global Payments 415 is currently generating about -0.04 per unit of risk. If you would invest 5,050 in Kinetics Market Opportunities on September 1, 2024 and sell it today you would earn a total of 4,628 from holding Kinetics Market Opportunities or generate 91.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 88.1% |
| Values | Daily Returns |
Kinetics Market Opportunities vs. Global Payments 415
Performance |
| Timeline |
| Kinetics Market Oppo |
| Global Payments 415 |
Kinetics Market and Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinetics Market and Global
The main advantage of trading using opposite Kinetics Market and Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinetics Market position performs unexpectedly, Global 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 Global will offset losses from the drop in Global's long position.| Kinetics Market vs. Kinetics Market Opportunities | Kinetics Market vs. Kinetics Small Cap | Kinetics Market vs. Kinetics Paradigm Fund | Kinetics Market vs. Alger Capital Appreciation |
| Global vs. Shake Shack | Global vs. Dennys Corp | Global vs. Fluent Inc | Global vs. Software Acquisition Group |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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