Correlation Between KSM Mutual and Glassbox
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By analyzing existing cross correlation between KSM Mutual Funds and Glassbox, you can compare the effects of market volatilities on KSM Mutual and Glassbox 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 KSM Mutual with a short position of Glassbox. Check out your portfolio center. Please also check ongoing floating volatility patterns of KSM Mutual and Glassbox.
Diversification Opportunities for KSM Mutual and Glassbox
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between KSM and Glassbox is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding KSM Mutual Funds and Glassbox in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glassbox and KSM Mutual 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 KSM Mutual Funds are associated (or correlated) with Glassbox. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glassbox has no effect on the direction of KSM Mutual i.e., KSM Mutual and Glassbox go up and down completely randomly.
Pair Corralation between KSM Mutual and Glassbox
Assuming the 90 days trading horizon KSM Mutual is expected to generate 6.68 times less return on investment than Glassbox. But when comparing it to its historical volatility, KSM Mutual Funds is 15.43 times less risky than Glassbox. It trades about 0.13 of its potential returns per unit of risk. Glassbox is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 343,500 in Glassbox on August 25, 2024 and sell it today you would earn a total of 62,400 from holding Glassbox or generate 18.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 92.2% |
| Values | Daily Returns |
KSM Mutual Funds vs. Glassbox
Performance |
| Timeline |
| KSM Mutual Funds |
| Glassbox |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
KSM Mutual and Glassbox Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KSM Mutual and Glassbox
The main advantage of trading using opposite KSM Mutual and Glassbox positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KSM Mutual position performs unexpectedly, Glassbox 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 Glassbox will offset losses from the drop in Glassbox's long position.| KSM Mutual vs. Harel Index Funds | KSM Mutual vs. Harel Index Funds | KSM Mutual vs. Harel Index Funds | KSM Mutual vs. Harel Index Funds |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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