Correlation Between Eastman Kodak and SIMON
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By analyzing existing cross correlation between Eastman Kodak Co and SIMON PROPERTY GROUP, you can compare the effects of market volatilities on Eastman Kodak and SIMON 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 Eastman Kodak with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastman Kodak and SIMON.
Diversification Opportunities for Eastman Kodak and SIMON
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Eastman and SIMON is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Eastman Kodak Co and SIMON PROPERTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PROPERTY GROUP and Eastman Kodak 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 Eastman Kodak Co are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PROPERTY GROUP has no effect on the direction of Eastman Kodak i.e., Eastman Kodak and SIMON go up and down completely randomly.
Pair Corralation between Eastman Kodak and SIMON
Given the investment horizon of 90 days Eastman Kodak Co is expected to generate 2.22 times more return on investment than SIMON. However, Eastman Kodak is 2.22 times more volatile than SIMON PROPERTY GROUP. It trades about 0.04 of its potential returns per unit of risk. SIMON PROPERTY GROUP is currently generating about 0.03 per unit of risk. If you would invest 476.00 in Eastman Kodak Co on September 12, 2024 and sell it today you would earn a total of 197.00 from holding Eastman Kodak Co or generate 41.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 80.06% |
| Values | Daily Returns |
Eastman Kodak Co vs. SIMON PROPERTY GROUP
Performance |
| Timeline |
| Eastman Kodak |
| SIMON PROPERTY GROUP |
Eastman Kodak and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastman Kodak and SIMON
The main advantage of trading using opposite Eastman Kodak and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastman Kodak position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| Eastman Kodak vs. SMX Public Limited | Eastman Kodak vs. System1 | Eastman Kodak vs. Lichen China Limited | Eastman Kodak vs. Team Inc |
| SIMON vs. AEP TEX INC | SIMON vs. US BANK NATIONAL | SIMON vs. Applied Blockchain | SIMON vs. BigBearai Holdings |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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