Correlation Between Kite Realty and VALMONT
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By analyzing existing cross correlation between Kite Realty Group and VALMONT INDS INC, you can compare the effects of market volatilities on Kite Realty and VALMONT 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 VALMONT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kite Realty and VALMONT.
Diversification Opportunities for Kite Realty and VALMONT
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kite and VALMONT is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Kite Realty Group and VALMONT INDS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VALMONT INDS INC 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 VALMONT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VALMONT INDS INC has no effect on the direction of Kite Realty i.e., Kite Realty and VALMONT go up and down completely randomly.
Pair Corralation between Kite Realty and VALMONT
Considering the 90-day investment horizon Kite Realty Group is expected to generate 0.42 times more return on investment than VALMONT. However, Kite Realty Group is 2.38 times less risky than VALMONT. It trades about 0.14 of its potential returns per unit of risk. VALMONT INDS INC is currently generating about -0.13 per unit of risk. If you would invest 2,559 in Kite Realty Group on August 31, 2024 and sell it today you would earn a total of 226.00 from holding Kite Realty Group or generate 8.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 55.56% |
| Values | Daily Returns |
Kite Realty Group vs. VALMONT INDS INC
Performance |
| Timeline |
| Kite Realty Group |
| VALMONT INDS INC |
Kite Realty and VALMONT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kite Realty and VALMONT
The main advantage of trading using opposite Kite Realty and VALMONT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kite Realty position performs unexpectedly, VALMONT 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 VALMONT will offset losses from the drop in VALMONT'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 |
| VALMONT vs. SL Green Realty | VALMONT vs. Smith Douglas Homes | VALMONT vs. Boston Properties | VALMONT vs. Live Ventures |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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