Correlation Between Kura Sushi and COMCAST
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By analyzing existing cross correlation between Kura Sushi USA and COMCAST P NEW, you can compare the effects of market volatilities on Kura Sushi and COMCAST 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 COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and COMCAST.
Diversification Opportunities for Kura Sushi and COMCAST
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kura and COMCAST is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and COMCAST P NEW in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST P NEW 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 COMCAST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMCAST P NEW has no effect on the direction of Kura Sushi i.e., Kura Sushi and COMCAST go up and down completely randomly.
Pair Corralation between Kura Sushi and COMCAST
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 1.83 times more return on investment than COMCAST. However, Kura Sushi is 1.83 times more volatile than COMCAST P NEW. It trades about 0.13 of its potential returns per unit of risk. COMCAST P NEW is currently generating about -0.21 per unit of risk. If you would invest 9,291 in Kura Sushi USA on September 5, 2024 and sell it today you would earn a total of 943.00 from holding Kura Sushi USA or generate 10.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 59.09% |
| Values | Daily Returns |
Kura Sushi USA vs. COMCAST P NEW
Performance |
| Timeline |
| Kura Sushi USA |
| COMCAST P NEW |
Kura Sushi and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and COMCAST
The main advantage of trading using opposite Kura Sushi and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, COMCAST 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 COMCAST will offset losses from the drop in COMCAST's long position.| Kura Sushi vs. Hyatt Hotels | Kura Sushi vs. Smart Share Global | Kura Sushi vs. Sweetgreen | Kura Sushi vs. Wyndham Hotels Resorts |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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