Correlation Between Kite Realty and GENERAL
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By analyzing existing cross correlation between Kite Realty Group and GENERAL ELEC CAP, you can compare the effects of market volatilities on Kite Realty and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and GENERAL.
Diversification Opportunities for Kite Realty and GENERAL
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kite and GENERAL is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Kite Realty i.e., Kite Realty and GENERAL go up and down completely randomly.
Pair Corralation between Kite Realty and GENERAL
Considering the 90-day investment horizon Kite Realty Group is expected to generate 0.76 times more return on investment than GENERAL. However, Kite Realty Group is 1.31 times less risky than GENERAL. It trades about 0.08 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.11 per unit of risk. If you would invest 2,651 in Kite Realty Group on September 4, 2024 and sell it today you would earn a total of 39.00 from holding Kite Realty Group or generate 1.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.38% |
| Values | Daily Returns |
Kite Realty Group vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Kite Realty Group |
| GENERAL ELEC CAP |
Kite Realty and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and GENERAL
The main advantage of trading using opposite Kite Realty and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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