Correlation Between Kura Sushi and 23291KAH8
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By analyzing existing cross correlation between Kura Sushi USA and DH EUROPE FINANCE, you can compare the effects of market volatilities on Kura Sushi and 23291KAH8 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 23291KAH8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and 23291KAH8.
Diversification Opportunities for Kura Sushi and 23291KAH8
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kura and 23291KAH8 is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and DH EUROPE FINANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DH EUROPE FINANCE 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 23291KAH8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DH EUROPE FINANCE has no effect on the direction of Kura Sushi i.e., Kura Sushi and 23291KAH8 go up and down completely randomly.
Pair Corralation between Kura Sushi and 23291KAH8
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 6.17 times more return on investment than 23291KAH8. However, Kura Sushi is 6.17 times more volatile than DH EUROPE FINANCE. It trades about 0.09 of its potential returns per unit of risk. DH EUROPE FINANCE is currently generating about -0.14 per unit of risk. If you would invest 9,981 in Kura Sushi USA on September 2, 2024 and sell it today you would earn a total of 711.00 from holding Kura Sushi USA or generate 7.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Kura Sushi USA vs. DH EUROPE FINANCE
Performance |
| Timeline |
| Kura Sushi USA |
| DH EUROPE FINANCE |
Kura Sushi and 23291KAH8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and 23291KAH8
The main advantage of trading using opposite Kura Sushi and 23291KAH8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, 23291KAH8 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 23291KAH8 will offset losses from the drop in 23291KAH8's long position.The idea behind Kura Sushi USA and DH EUROPE FINANCE pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 23291KAH8 vs. Kura Sushi USA | 23291KAH8 vs. Bt Brands | 23291KAH8 vs. Evolution Gaming Group | 23291KAH8 vs. Dine Brands Global |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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