Correlation Between Kura Sushi and CONSUMERS
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By analyzing existing cross correlation between Kura Sushi USA and CONSUMERS ENERGY 325, you can compare the effects of market volatilities on Kura Sushi and CONSUMERS 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 CONSUMERS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and CONSUMERS.
Diversification Opportunities for Kura Sushi and CONSUMERS
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kura and CONSUMERS is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and CONSUMERS ENERGY 325 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSUMERS ENERGY 325 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 CONSUMERS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSUMERS ENERGY 325 has no effect on the direction of Kura Sushi i.e., Kura Sushi and CONSUMERS go up and down completely randomly.
Pair Corralation between Kura Sushi and CONSUMERS
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 3.27 times more return on investment than CONSUMERS. However, Kura Sushi is 3.27 times more volatile than CONSUMERS ENERGY 325. It trades about 0.05 of its potential returns per unit of risk. CONSUMERS ENERGY 325 is currently generating about -0.05 per unit of risk. If you would invest 7,042 in Kura Sushi USA on September 14, 2024 and sell it today you would earn a total of 2,746 from holding Kura Sushi USA or generate 38.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 60.24% |
| Values | Daily Returns |
Kura Sushi USA vs. CONSUMERS ENERGY 325
Performance |
| Timeline |
| Kura Sushi USA |
| CONSUMERS ENERGY 325 |
Kura Sushi and CONSUMERS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and CONSUMERS
The main advantage of trading using opposite Kura Sushi and CONSUMERS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, CONSUMERS 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 CONSUMERS will offset losses from the drop in CONSUMERS's long position.| Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Jack In The |
| CONSUMERS vs. AEP TEX INC | CONSUMERS vs. US BANK NATIONAL | CONSUMERS vs. PayPal Holdings | CONSUMERS vs. Alphabet Inc Class C |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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