Correlation Between Kinetik Holdings and AMEREN
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By analyzing existing cross correlation between Kinetik Holdings and AMEREN P 365, you can compare the effects of market volatilities on Kinetik Holdings and AMEREN 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 Kinetik Holdings with a short position of AMEREN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinetik Holdings and AMEREN.
Diversification Opportunities for Kinetik Holdings and AMEREN
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kinetik and AMEREN is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Kinetik Holdings and AMEREN P 365 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMEREN P 365 and Kinetik Holdings 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 Kinetik Holdings are associated (or correlated) with AMEREN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMEREN P 365 has no effect on the direction of Kinetik Holdings i.e., Kinetik Holdings and AMEREN go up and down completely randomly.
Pair Corralation between Kinetik Holdings and AMEREN
Given the investment horizon of 90 days Kinetik Holdings is expected to generate 7.8 times more return on investment than AMEREN. However, Kinetik Holdings is 7.8 times more volatile than AMEREN P 365. It trades about 0.28 of its potential returns per unit of risk. AMEREN P 365 is currently generating about -0.01 per unit of risk. If you would invest 4,185 in Kinetik Holdings on August 28, 2024 and sell it today you would earn a total of 1,733 from holding Kinetik Holdings or generate 41.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 74.6% |
| Values | Daily Returns |
Kinetik Holdings vs. AMEREN P 365
Performance |
| Timeline |
| Kinetik Holdings |
| AMEREN P 365 |
Kinetik Holdings and AMEREN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinetik Holdings and AMEREN
The main advantage of trading using opposite Kinetik Holdings and AMEREN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinetik Holdings position performs unexpectedly, AMEREN 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 AMEREN will offset losses from the drop in AMEREN's long position.| Kinetik Holdings vs. Western Midstream Partners | Kinetik Holdings vs. DT Midstream | Kinetik Holdings vs. MPLX LP | Kinetik Holdings vs. Hess Midstream Partners |
| AMEREN vs. AEP TEX INC | AMEREN vs. US BANK NATIONAL | AMEREN vs. Dupont De Nemours | AMEREN vs. The Travelers Companies |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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