Correlation Between KVH Industries and SP 500
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By analyzing existing cross correlation between KVH Industries and SP 500 Retailing, you can compare the effects of market volatilities on KVH Industries and SP 500 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 KVH Industries with a short position of SP 500. Check out your portfolio center. Please also check ongoing floating volatility patterns of KVH Industries and SP 500.
Diversification Opportunities for KVH Industries and SP 500
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between KVH and 5SP2550 is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding KVH Industries and SP 500 Retailing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SP 500 Retailing and KVH Industries 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 KVH Industries are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 Retailing has no effect on the direction of KVH Industries i.e., KVH Industries and SP 500 go up and down completely randomly.
Pair Corralation between KVH Industries and SP 500
Given the investment horizon of 90 days KVH Industries is expected to generate 1.51 times more return on investment than SP 500. However, KVH Industries is 1.51 times more volatile than SP 500 Retailing. It trades about 0.51 of its potential returns per unit of risk. SP 500 Retailing is currently generating about 0.24 per unit of risk. If you would invest 475.00 in KVH Industries on September 13, 2024 and sell it today you would earn a total of 107.00 from holding KVH Industries or generate 22.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KVH Industries vs. SP 500 Retailing
Performance |
| Timeline |
KVH Industries and SP 500 Volatility Contrast
Predicted Return Density |
| Returns |
KVH Industries
Pair trading matchups for KVH Industries
SP 500 Retailing
Pair trading matchups for SP 500
Pair Trading with KVH Industries and SP 500
The main advantage of trading using opposite KVH Industries and SP 500 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KVH Industries position performs unexpectedly, SP 500 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 SP 500 will offset losses from the drop in SP 500's long position.| KVH Industries vs. Telesat Corp | KVH Industries vs. Comtech Telecommunications Corp | KVH Industries vs. Knowles Cor | KVH Industries vs. Ituran Location and |
| SP 500 vs. Barrick Gold Corp | SP 500 vs. Dine Brands Global | SP 500 vs. Highway Holdings Limited | SP 500 vs. Kaltura |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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