Correlation Between Katapult Holdings and 70082LAB3
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By analyzing existing cross correlation between Katapult Holdings Equity and US70082LAB36, you can compare the effects of market volatilities on Katapult Holdings and 70082LAB3 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 Katapult Holdings with a short position of 70082LAB3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Katapult Holdings and 70082LAB3.
Diversification Opportunities for Katapult Holdings and 70082LAB3
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Katapult and 70082LAB3 is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Katapult Holdings Equity and US70082LAB36 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US70082LAB36 and Katapult 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 Katapult Holdings Equity are associated (or correlated) with 70082LAB3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US70082LAB36 has no effect on the direction of Katapult Holdings i.e., Katapult Holdings and 70082LAB3 go up and down completely randomly.
Pair Corralation between Katapult Holdings and 70082LAB3
Assuming the 90 days horizon Katapult Holdings Equity is expected to under-perform the 70082LAB3. In addition to that, Katapult Holdings is 7.92 times more volatile than US70082LAB36. It trades about -0.04 of its total potential returns per unit of risk. US70082LAB36 is currently generating about -0.21 per unit of volatility. If you would invest 8,925 in US70082LAB36 on August 30, 2024 and sell it today you would lose (387.00) from holding US70082LAB36 or give up 4.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 57.14% |
| Values | Daily Returns |
Katapult Holdings Equity vs. US70082LAB36
Performance |
| Timeline |
| Katapult Holdings Equity |
| US70082LAB36 |
Katapult Holdings and 70082LAB3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Katapult Holdings and 70082LAB3
The main advantage of trading using opposite Katapult Holdings and 70082LAB3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Katapult Holdings position performs unexpectedly, 70082LAB3 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 70082LAB3 will offset losses from the drop in 70082LAB3's long position.| Katapult Holdings vs. AvePoint | Katapult Holdings vs. Katapult Holdings | Katapult Holdings vs. WM Technology |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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