Correlation Between KTBST Mixed and AAPICO Hitech
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By analyzing existing cross correlation between KTBST Mixed Leasehold and AAPICO Hitech Public, you can compare the effects of market volatilities on KTBST Mixed and AAPICO Hitech 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 KTBST Mixed with a short position of AAPICO Hitech. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and AAPICO Hitech.
Diversification Opportunities for KTBST Mixed and AAPICO Hitech
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between KTBST and AAPICO is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and AAPICO Hitech Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AAPICO Hitech Public and KTBST Mixed 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 KTBST Mixed Leasehold are associated (or correlated) with AAPICO Hitech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AAPICO Hitech Public has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and AAPICO Hitech go up and down completely randomly.
Pair Corralation between KTBST Mixed and AAPICO Hitech
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to generate 0.5 times more return on investment than AAPICO Hitech. However, KTBST Mixed Leasehold is 2.01 times less risky than AAPICO Hitech. It trades about -0.03 of its potential returns per unit of risk. AAPICO Hitech Public is currently generating about -0.05 per unit of risk. If you would invest 732.00 in KTBST Mixed Leasehold on November 27, 2024 and sell it today you would lose (127.00) from holding KTBST Mixed Leasehold or give up 17.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. AAPICO Hitech Public
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| AAPICO Hitech Public |
KTBST Mixed and AAPICO Hitech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and AAPICO Hitech
The main advantage of trading using opposite KTBST Mixed and AAPICO Hitech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, AAPICO Hitech 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 AAPICO Hitech will offset losses from the drop in AAPICO Hitech's long position.| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
| AAPICO Hitech vs. S Hotels and | AAPICO Hitech vs. Asia Hotel Public | AAPICO Hitech vs. MFC Asset Management | AAPICO Hitech vs. Laguna Resorts Hotels |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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