Correlation Between Kite Realty and APACHE
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By analyzing existing cross correlation between Kite Realty Group and APACHE P 525, you can compare the effects of market volatilities on Kite Realty and APACHE 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 APACHE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and APACHE.
Diversification Opportunities for Kite Realty and APACHE
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kite and APACHE is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and APACHE P 525 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APACHE P 525 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 APACHE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APACHE P 525 has no effect on the direction of Kite Realty i.e., Kite Realty and APACHE go up and down completely randomly.
Pair Corralation between Kite Realty and APACHE
Considering the 90-day investment horizon Kite Realty Group is expected to generate 0.66 times more return on investment than APACHE. However, Kite Realty Group is 1.51 times less risky than APACHE. It trades about 0.33 of its potential returns per unit of risk. APACHE P 525 is currently generating about -0.19 per unit of risk. 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 Against |
| Strength | Very Weak |
| Accuracy | 86.36% |
| Values | Daily Returns |
Kite Realty Group vs. APACHE P 525
Performance |
| Timeline |
| Kite Realty Group |
| APACHE P 525 |
Kite Realty and APACHE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and APACHE
The main advantage of trading using opposite Kite Realty and APACHE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, APACHE 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 APACHE will offset losses from the drop in APACHE'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 |
| APACHE vs. Arrow Electronics | APACHE vs. Sphere Entertainment Co | APACHE vs. Cedar Realty Trust | APACHE vs. Radcom |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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