Correlation Between Kura Sushi and INTEL
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kura Sushi USA and INTEL P 49, you can compare the effects of market volatilities on Kura Sushi and INTEL 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 INTEL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and INTEL.
Diversification Opportunities for Kura Sushi and INTEL
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kura and INTEL is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and INTEL P 49 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEL P 49 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 INTEL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTEL P 49 has no effect on the direction of Kura Sushi i.e., Kura Sushi and INTEL go up and down completely randomly.
Pair Corralation between Kura Sushi and INTEL
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 3.13 times more return on investment than INTEL. However, Kura Sushi is 3.13 times more volatile than INTEL P 49. It trades about 0.02 of its potential returns per unit of risk. INTEL P 49 is currently generating about 0.03 per unit of risk. If you would invest 10,630 in Kura Sushi USA on September 3, 2024 and sell it today you would earn a total of 62.00 from holding Kura Sushi USA or generate 0.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.21% |
| Values | Daily Returns |
Kura Sushi USA vs. INTEL P 49
Performance |
| Timeline |
| Kura Sushi USA |
| INTEL P 49 |
Kura Sushi and INTEL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and INTEL
The main advantage of trading using opposite Kura Sushi and INTEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, INTEL 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 INTEL will offset losses from the drop in INTEL's long position.| Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Jack In The |
| INTEL vs. Life Time Group | INTEL vs. Wicket Gaming AB | INTEL vs. Kura Sushi USA | INTEL vs. Dalata Hotel Group |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |