Correlation Between KVH Industries and BOEING
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By analyzing existing cross correlation between KVH Industries and BOEING CO, you can compare the effects of market volatilities on KVH Industries and BOEING 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 BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of KVH Industries and BOEING.
Diversification Opportunities for KVH Industries and BOEING
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between KVH and BOEING is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding KVH Industries and BOEING CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING CO 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 BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING CO has no effect on the direction of KVH Industries i.e., KVH Industries and BOEING go up and down completely randomly.
Pair Corralation between KVH Industries and BOEING
Given the investment horizon of 90 days KVH Industries is expected to generate 5.06 times more return on investment than BOEING. However, KVH Industries is 5.06 times more volatile than BOEING CO. It trades about 0.48 of its potential returns per unit of risk. BOEING CO is currently generating about -0.03 per unit of risk. 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 Against |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
KVH Industries vs. BOEING CO
Performance |
| Timeline |
| KVH Industries |
| BOEING CO |
KVH Industries and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KVH Industries and BOEING
The main advantage of trading using opposite KVH Industries and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KVH Industries position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING'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 |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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