Correlation Between Kura Sushi and 64828TAA0
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By analyzing existing cross correlation between Kura Sushi USA and NEW RESIDENTIAL INVT, you can compare the effects of market volatilities on Kura Sushi and 64828TAA0 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 64828TAA0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and 64828TAA0.
Diversification Opportunities for Kura Sushi and 64828TAA0
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kura and 64828TAA0 is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and NEW RESIDENTIAL INVT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NEW RESIDENTIAL INVT 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 64828TAA0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NEW RESIDENTIAL INVT has no effect on the direction of Kura Sushi i.e., Kura Sushi and 64828TAA0 go up and down completely randomly.
Pair Corralation between Kura Sushi and 64828TAA0
Given the investment horizon of 90 days Kura Sushi is expected to generate 13.2 times less return on investment than 64828TAA0. But when comparing it to its historical volatility, Kura Sushi USA is 12.55 times less risky than 64828TAA0. It trades about 0.05 of its potential returns per unit of risk. NEW RESIDENTIAL INVT is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 9,154 in NEW RESIDENTIAL INVT on September 3, 2024 and sell it today you would earn a total of 208.00 from holding NEW RESIDENTIAL INVT or generate 2.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 70.3% |
| Values | Daily Returns |
Kura Sushi USA vs. NEW RESIDENTIAL INVT
Performance |
| Timeline |
| Kura Sushi USA |
| NEW RESIDENTIAL INVT |
Kura Sushi and 64828TAA0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and 64828TAA0
The main advantage of trading using opposite Kura Sushi and 64828TAA0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, 64828TAA0 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 64828TAA0 will offset losses from the drop in 64828TAA0's long position.| Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Jack In The |
| 64828TAA0 vs. Where Food Comes | 64828TAA0 vs. Starbucks | 64828TAA0 vs. GameStop Corp | 64828TAA0 vs. Kura Sushi USA |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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