Correlation Between Kite Realty and Genesis Growth
Can any of the company-specific risk be diversified away by investing in both Kite Realty and Genesis Growth 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 Genesis Growth 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 Genesis Growth Tech, you can compare the effects of market volatilities on Kite Realty and Genesis Growth 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 Genesis Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and Genesis Growth.
Diversification Opportunities for Kite Realty and Genesis Growth
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kite and Genesis is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and Genesis Growth Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genesis Growth Tech 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 Genesis Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genesis Growth Tech has no effect on the direction of Kite Realty i.e., Kite Realty and Genesis Growth go up and down completely randomly.
Pair Corralation between Kite Realty and Genesis Growth
If you would invest 2,225 in Kite Realty Group on September 12, 2024 and sell it today you would earn a total of 426.00 from holding Kite Realty Group or generate 19.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 0.28% |
| Values | Daily Returns |
Kite Realty Group vs. Genesis Growth Tech
Performance |
| Timeline |
| Kite Realty Group |
| Genesis Growth Tech |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kite Realty and Genesis Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and Genesis Growth
The main advantage of trading using opposite Kite Realty and Genesis Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, Genesis Growth 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 Genesis Growth will offset losses from the drop in Genesis Growth'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 |
| Genesis Growth vs. The Gap, | Genesis Growth vs. Kite Realty Group | Genesis Growth vs. BCB Bancorp | Genesis Growth vs. LithiumBank Resources Corp |
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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