Correlation Between KTBST Mixed and WHA Industrial
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By analyzing existing cross correlation between KTBST Mixed Leasehold and WHA Industrial Leasehold, you can compare the effects of market volatilities on KTBST Mixed and WHA Industrial 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 WHA Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and WHA Industrial.
Diversification Opportunities for KTBST Mixed and WHA Industrial
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between KTBST and WHA is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and WHA Industrial Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WHA Industrial Leasehold 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 WHA Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WHA Industrial Leasehold has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and WHA Industrial go up and down completely randomly.
Pair Corralation between KTBST Mixed and WHA Industrial
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to under-perform the WHA Industrial. But the stock apears to be less risky and, when comparing its historical volatility, KTBST Mixed Leasehold is 1.06 times less risky than WHA Industrial. The stock trades about -0.2 of its potential returns per unit of risk. The WHA Industrial Leasehold is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest 645.00 in WHA Industrial Leasehold on November 19, 2024 and sell it today you would lose (20.00) from holding WHA Industrial Leasehold or give up 3.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. WHA Industrial Leasehold
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| WHA Industrial Leasehold |
KTBST Mixed and WHA Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and WHA Industrial
The main advantage of trading using opposite KTBST Mixed and WHA Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, WHA Industrial 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 WHA Industrial will offset losses from the drop in WHA Industrial'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 |
| WHA Industrial vs. Quality Houses Property | WHA Industrial vs. Ticon Freehold and | WHA Industrial vs. CPN Retail Growth | WHA Industrial vs. Prospect Logistics and |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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