Correlation Between Kite Realty and Far East
Can any of the company-specific risk be diversified away by investing in both Kite Realty and Far East at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Kite Realty and Far East into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kite Realty Group and Far East Wind, you can compare the effects of market volatilities on Kite Realty and Far East 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 Kite Realty with a short position of Far East. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and Far East.
Diversification Opportunities for Kite Realty and Far East
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kite and Far is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and Far East Wind in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Far East Wind and Kite Realty 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 Kite Realty Group are associated (or correlated) with Far East. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Far East Wind has no effect on the direction of Kite Realty i.e., Kite Realty and Far East go up and down completely randomly.
Pair Corralation between Kite Realty and Far East
If you would invest 1,969 in Kite Realty Group on August 31, 2024 and sell it today you would earn a total of 788.00 from holding Kite Realty Group or generate 40.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Kite Realty Group vs. Far East Wind
Performance |
| Timeline |
| Kite Realty Group |
| Far East Wind |
Kite Realty and Far East Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and Far East
The main advantage of trading using opposite Kite Realty and Far East positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, Far East 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 Far East will offset losses from the drop in Far East's long position.| Kite Realty vs. Site Centers Corp | Kite Realty vs. CBL Associates Properties | Kite Realty vs. Urban Edge Properties | Kite Realty vs. Acadia Realty Trust |
| Far East vs. Micron Technology | Far East vs. FormFactor | Far East vs. Globalfoundries | Far East vs. Pure Cycle |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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