Correlation Between Kura Sushi and 126650DF4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kura Sushi USA and CVS HEALTH P, you can compare the effects of market volatilities on Kura Sushi and 126650DF4 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 126650DF4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and 126650DF4.
Diversification Opportunities for Kura Sushi and 126650DF4
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kura and 126650DF4 is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and CVS HEALTH P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CVS HEALTH P 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 126650DF4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CVS HEALTH P has no effect on the direction of Kura Sushi i.e., Kura Sushi and 126650DF4 go up and down completely randomly.
Pair Corralation between Kura Sushi and 126650DF4
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 4.94 times more return on investment than 126650DF4. However, Kura Sushi is 4.94 times more volatile than CVS HEALTH P. It trades about 0.13 of its potential returns per unit of risk. CVS HEALTH P is currently generating about -0.31 per unit of risk. If you would invest 9,233 in Kura Sushi USA on September 12, 2024 and sell it today you would earn a total of 806.00 from holding Kura Sushi USA or generate 8.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kura Sushi USA vs. CVS HEALTH P
Performance |
| Timeline |
| Kura Sushi USA |
| CVS HEALTH P |
Kura Sushi and 126650DF4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and 126650DF4
The main advantage of trading using opposite Kura Sushi and 126650DF4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, 126650DF4 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 126650DF4 will offset losses from the drop in 126650DF4's long position.| Kura Sushi vs. Noble Romans | Kura Sushi vs. Good Times Restaurants | Kura Sushi vs. Flanigans Enterprises | Kura Sushi vs. FAT Brands |
| 126650DF4 vs. AEP TEX INC | 126650DF4 vs. US BANK NATIONAL | 126650DF4 vs. Applied Blockchain | 126650DF4 vs. BigBearai Holdings |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |