Correlation Between KT Medical and INET Leasehold
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By analyzing existing cross correlation between KT Medical Service and INET Leasehold REIT, you can compare the effects of market volatilities on KT Medical and INET Leasehold 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 KT Medical with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of KT Medical and INET Leasehold.
Diversification Opportunities for KT Medical and INET Leasehold
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between KTMS and INET is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding KT Medical Service and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and KT Medical 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 KT Medical Service are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of KT Medical i.e., KT Medical and INET Leasehold go up and down completely randomly.
Pair Corralation between KT Medical and INET Leasehold
Assuming the 90 days trading horizon KT Medical Service is expected to under-perform the INET Leasehold. In addition to that, KT Medical is 2.94 times more volatile than INET Leasehold REIT. It trades about -0.02 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.05 per unit of volatility. If you would invest 771.00 in INET Leasehold REIT on September 1, 2024 and sell it today you would earn a total of 79.00 from holding INET Leasehold REIT or generate 10.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
KT Medical Service vs. INET Leasehold REIT
Performance |
| Timeline |
| KT Medical Service |
| INET Leasehold REIT |
KT Medical and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KT Medical and INET Leasehold
The main advantage of trading using opposite KT Medical and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KT Medical position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.| KT Medical vs. DTC Enterprise PCL | KT Medical vs. Yong Concrete PCL | KT Medical vs. Make To Win | KT Medical vs. Aurora Design PCL |
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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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