Correlation Between Kaspien Holdings and Kubient
Can any of the company-specific risk be diversified away by investing in both Kaspien Holdings and Kubient at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Kaspien Holdings and Kubient into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaspien Holdings and Kubient, you can compare the effects of market volatilities on Kaspien Holdings and Kubient 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 Kaspien Holdings with a short position of Kubient. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaspien Holdings and Kubient.
Diversification Opportunities for Kaspien Holdings and Kubient
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kaspien and Kubient is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kaspien Holdings and Kubient in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kubient and Kaspien Holdings 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 Kaspien Holdings are associated (or correlated) with Kubient. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kubient has no effect on the direction of Kaspien Holdings i.e., Kaspien Holdings and Kubient go up and down completely randomly.
Pair Corralation between Kaspien Holdings and Kubient
If you would invest (100.00) in Kubient on December 2, 2024 and sell it today you would earn a total of 100.00 from holding Kubient or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kaspien Holdings vs. Kubient
Performance |
| Timeline |
| Kaspien Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Kubient |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Kaspien Holdings and Kubient Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaspien Holdings and Kubient
The main advantage of trading using opposite Kaspien Holdings and Kubient positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaspien Holdings position performs unexpectedly, Kubient 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 Kubient will offset losses from the drop in Kubient's long position.| Kaspien Holdings vs. Quoin Pharmaceuticals Ltd | ||
| Kaspien Holdings vs. Intelligent Living Application | ||
| Kaspien Holdings vs. Revelation Biosciences | ||
| Kaspien Holdings vs. Virax Biolabs 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |