Correlation Between Kura Sushi and Bukit Asam
Can any of the company-specific risk be diversified away by investing in both Kura Sushi and Bukit Asam at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Kura Sushi and Bukit Asam into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kura Sushi USA and Bukit Asam Tbk, you can compare the effects of market volatilities on Kura Sushi and Bukit Asam 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 Kura Sushi with a short position of Bukit Asam. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and Bukit Asam.
Diversification Opportunities for Kura Sushi and Bukit Asam
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kura and Bukit is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and Bukit Asam Tbk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bukit Asam Tbk and Kura Sushi 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 Kura Sushi USA are associated (or correlated) with Bukit Asam. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bukit Asam Tbk has no effect on the direction of Kura Sushi i.e., Kura Sushi and Bukit Asam go up and down completely randomly.
Pair Corralation between Kura Sushi and Bukit Asam
Given the investment horizon of 90 days Kura Sushi is expected to generate 10.1 times less return on investment than Bukit Asam. But when comparing it to its historical volatility, Kura Sushi USA is 5.53 times less risky than Bukit Asam. It trades about 0.05 of its potential returns per unit of risk. Bukit Asam Tbk is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 595.00 in Bukit Asam Tbk on September 12, 2024 and sell it today you would lose (179.00) from holding Bukit Asam Tbk or give up 30.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.36% |
| Values | Daily Returns |
Kura Sushi USA vs. Bukit Asam Tbk
Performance |
| Timeline |
| Kura Sushi USA |
| Bukit Asam Tbk |
Kura Sushi and Bukit Asam Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and Bukit Asam
The main advantage of trading using opposite Kura Sushi and Bukit Asam positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, Bukit Asam 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 Bukit Asam will offset losses from the drop in Bukit Asam's long position.| Kura Sushi vs. Noble Romans | Kura Sushi vs. Good Times Restaurants | Kura Sushi vs. Flanigans Enterprises | Kura Sushi vs. FAT Brands |
| Bukit Asam vs. The Cheesecake Factory | Bukit Asam vs. Brenmiller Energy Ltd | Bukit Asam vs. Ark Restaurants Corp | Bukit Asam vs. Kura Sushi USA |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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