Correlation Between KVH Industries and IX Acquisition
Can any of the company-specific risk be diversified away by investing in both KVH Industries and IX Acquisition 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 KVH Industries and IX Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KVH Industries and IX Acquisition Corp, you can compare the effects of market volatilities on KVH Industries and IX Acquisition 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 IX Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of KVH Industries and IX Acquisition.
Diversification Opportunities for KVH Industries and IX Acquisition
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between KVH and IXAQU is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding KVH Industries and IX Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IX Acquisition Corp 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 IX Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IX Acquisition Corp has no effect on the direction of KVH Industries i.e., KVH Industries and IX Acquisition go up and down completely randomly.
Pair Corralation between KVH Industries and IX Acquisition
If you would invest 457.00 in KVH Industries on September 3, 2024 and sell it today you would earn a total of 94.00 from holding KVH Industries or generate 20.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
KVH Industries vs. IX Acquisition Corp
Performance |
| Timeline |
| KVH Industries |
| IX Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KVH Industries and IX Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KVH Industries and IX Acquisition
The main advantage of trading using opposite KVH Industries and IX Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KVH Industries position performs unexpectedly, IX Acquisition 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 IX Acquisition will offset losses from the drop in IX Acquisition'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 |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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