Correlation Between Kite Realty and AXASA
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By analyzing existing cross correlation between Kite Realty Group and AXASA 6379, you can compare the effects of market volatilities on Kite Realty and AXASA 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 AXASA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and AXASA.
Diversification Opportunities for Kite Realty and AXASA
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kite and AXASA is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and AXASA 6379 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXASA 6379 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 AXASA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXASA 6379 has no effect on the direction of Kite Realty i.e., Kite Realty and AXASA go up and down completely randomly.
Pair Corralation between Kite Realty and AXASA
Considering the 90-day investment horizon Kite Realty Group is expected to generate 1.14 times more return on investment than AXASA. However, Kite Realty is 1.14 times more volatile than AXASA 6379. It trades about 0.07 of its potential returns per unit of risk. AXASA 6379 is currently generating about 0.06 per unit of risk. If you would invest 1,969 in Kite Realty Group on August 31, 2024 and sell it today you would earn a total of 788.00 from holding Kite Realty Group or generate 40.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 10.43% |
| Values | Daily Returns |
Kite Realty Group vs. AXASA 6379
Performance |
| Timeline |
| Kite Realty Group |
| AXASA 6379 |
Kite Realty and AXASA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and AXASA
The main advantage of trading using opposite Kite Realty and AXASA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, AXASA 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 AXASA will offset losses from the drop in AXASA'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 |
| AXASA vs. Kite Realty Group | AXASA vs. Tesla Inc | AXASA vs. Digi International | AXASA vs. WiMi Hologram Cloud |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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