Correlation Between Kite Realty and Pta Holdings
Can any of the company-specific risk be diversified away by investing in both Kite Realty and Pta Holdings 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 Pta Holdings 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 Pta Holdings In, you can compare the effects of market volatilities on Kite Realty and Pta Holdings 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 Pta Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and Pta Holdings.
Diversification Opportunities for Kite Realty and Pta Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kite and Pta is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and Pta Holdings In in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pta Holdings In 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 Pta Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pta Holdings In has no effect on the direction of Kite Realty i.e., Kite Realty and Pta Holdings go up and down completely randomly.
Pair Corralation between Kite Realty and Pta Holdings
Considering the 90-day investment horizon Kite Realty Group is expected to generate 0.3 times more return on investment than Pta Holdings. However, Kite Realty Group is 3.37 times less risky than Pta Holdings. It trades about 0.05 of its potential returns per unit of risk. Pta Holdings In is currently generating about -0.05 per unit of risk. If you would invest 1,935 in Kite Realty Group on September 14, 2024 and sell it today you would earn a total of 693.00 from holding Kite Realty Group or generate 35.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 78.14% |
| Values | Daily Returns |
Kite Realty Group vs. Pta Holdings In
Performance |
| Timeline |
| Kite Realty Group |
| Pta Holdings In |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kite Realty and Pta Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and Pta Holdings
The main advantage of trading using opposite Kite Realty and Pta Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, Pta Holdings 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 Pta Holdings will offset losses from the drop in Pta Holdings' 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 |
| Pta Holdings vs. CVW CleanTech | Pta Holdings vs. Cedar Realty Trust | Pta Holdings vs. Kite Realty Group | Pta Holdings vs. Ultra Clean Holdings |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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