Correlation Between Kite Realty and Inflection Point
Can any of the company-specific risk be diversified away by investing in both Kite Realty and Inflection Point 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 Inflection Point 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 Inflection Point Acquisition, you can compare the effects of market volatilities on Kite Realty and Inflection Point 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 Inflection Point. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and Inflection Point.
Diversification Opportunities for Kite Realty and Inflection Point
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kite and Inflection is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and Inflection Point Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inflection Point Acq 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 Inflection Point. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inflection Point Acq has no effect on the direction of Kite Realty i.e., Kite Realty and Inflection Point go up and down completely randomly.
Pair Corralation between Kite Realty and Inflection Point
If you would invest 2,582 in Kite Realty Group on August 29, 2024 and sell it today you would earn a total of 198.00 from holding Kite Realty Group or generate 7.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kite Realty Group vs. Inflection Point Acquisition
Performance |
| Timeline |
| Kite Realty Group |
| Inflection Point Acq |
Kite Realty and Inflection Point Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and Inflection Point
The main advantage of trading using opposite Kite Realty and Inflection Point positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, Inflection Point 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 Inflection Point will offset losses from the drop in Inflection Point'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 |
| Inflection Point vs. Aurora Innovation | Inflection Point vs. HUMANA INC | Inflection Point vs. Aquagold International | Inflection Point vs. Barloworld Ltd ADR |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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