Correlation Between Kite Realty and PACIFIC
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By analyzing existing cross correlation between Kite Realty Group and PACIFIC GAS AND, you can compare the effects of market volatilities on Kite Realty and PACIFIC 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 PACIFIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and PACIFIC.
Diversification Opportunities for Kite Realty and PACIFIC
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kite and PACIFIC is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and PACIFIC GAS AND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PACIFIC GAS AND 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 PACIFIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PACIFIC GAS AND has no effect on the direction of Kite Realty i.e., Kite Realty and PACIFIC go up and down completely randomly.
Pair Corralation between Kite Realty and PACIFIC
Considering the 90-day investment horizon Kite Realty is expected to generate 31.17 times less return on investment than PACIFIC. But when comparing it to its historical volatility, Kite Realty Group is 39.71 times less risky than PACIFIC. It trades about 0.06 of its potential returns per unit of risk. PACIFIC GAS AND is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 6,777 in PACIFIC GAS AND on September 12, 2024 and sell it today you would earn a total of 958.00 from holding PACIFIC GAS AND or generate 14.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 88.2% |
| Values | Daily Returns |
Kite Realty Group vs. PACIFIC GAS AND
Performance |
| Timeline |
| Kite Realty Group |
| PACIFIC GAS AND |
Kite Realty and PACIFIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and PACIFIC
The main advantage of trading using opposite Kite Realty and PACIFIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, PACIFIC 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 PACIFIC will offset losses from the drop in PACIFIC'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 |
| PACIFIC vs. CenterPoint Energy | PACIFIC vs. Kenon Holdings | PACIFIC vs. Perseus Mining Limited | PACIFIC vs. NiSource |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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