Correlation Between Kite Realty and Contagious Gaming
Can any of the company-specific risk be diversified away by investing in both Kite Realty and Contagious Gaming 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 Contagious Gaming 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 Contagious Gaming, you can compare the effects of market volatilities on Kite Realty and Contagious Gaming 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 Contagious Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and Contagious Gaming.
Diversification Opportunities for Kite Realty and Contagious Gaming
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kite and Contagious is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and Contagious Gaming in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Contagious Gaming 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 Contagious Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Contagious Gaming has no effect on the direction of Kite Realty i.e., Kite Realty and Contagious Gaming go up and down completely randomly.
Pair Corralation between Kite Realty and Contagious Gaming
If you would invest 2,606 in Kite Realty Group on August 25, 2024 and sell it today you would earn a total of 134.00 from holding Kite Realty Group or generate 5.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Kite Realty Group vs. Contagious Gaming
Performance |
| Timeline |
| Kite Realty Group |
| Contagious Gaming |
Kite Realty and Contagious Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and Contagious Gaming
The main advantage of trading using opposite Kite Realty and Contagious Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, Contagious Gaming 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 Contagious Gaming will offset losses from the drop in Contagious Gaming's long position.| Kite Realty vs. Saul Centers | Kite Realty vs. Urban Edge Properties | Kite Realty vs. Site Centers Corp | Kite Realty vs. Inventrust Properties Corp |
| Contagious Gaming vs. FitLife Brands, Common | Contagious Gaming vs. HUMANA INC | Contagious Gaming vs. SCOR PK | Contagious Gaming vs. Aquagold International |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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