Correlation Between Kite Realty and KRAFT
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By analyzing existing cross correlation between Kite Realty Group and KRAFT FOODS GROUP, you can compare the effects of market volatilities on Kite Realty and KRAFT 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 KRAFT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and KRAFT.
Diversification Opportunities for Kite Realty and KRAFT
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kite and KRAFT is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and KRAFT FOODS GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KRAFT FOODS GROUP 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 KRAFT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KRAFT FOODS GROUP has no effect on the direction of Kite Realty i.e., Kite Realty and KRAFT go up and down completely randomly.
Pair Corralation between Kite Realty and KRAFT
Considering the 90-day investment horizon Kite Realty Group is expected to generate 1.3 times more return on investment than KRAFT. However, Kite Realty is 1.3 times more volatile than KRAFT FOODS GROUP. It trades about 0.09 of its potential returns per unit of risk. KRAFT FOODS GROUP is currently generating about 0.0 per unit of risk. If you would invest 2,098 in Kite Realty Group on September 4, 2024 and sell it today you would earn a total of 615.00 from holding Kite Realty Group or generate 29.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 79.35% |
| Values | Daily Returns |
Kite Realty Group vs. KRAFT FOODS GROUP
Performance |
| Timeline |
| Kite Realty Group |
| KRAFT FOODS GROUP |
Kite Realty and KRAFT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and KRAFT
The main advantage of trading using opposite Kite Realty and KRAFT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, KRAFT 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 KRAFT will offset losses from the drop in KRAFT'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 |
| KRAFT vs. CarsalesCom Ltd ADR | KRAFT vs. Ryman Hospitality Properties | KRAFT vs. U Power Limited | KRAFT vs. Aptiv PLC |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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