Correlation Between Lifevantage and KIMCO
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By analyzing existing cross correlation between Lifevantage and KIMCO RLTY P, you can compare the effects of market volatilities on Lifevantage and KIMCO 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 Lifevantage with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lifevantage and KIMCO.
Diversification Opportunities for Lifevantage and KIMCO
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lifevantage and KIMCO is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Lifevantage and KIMCO RLTY P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIMCO RLTY P and Lifevantage 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 Lifevantage are associated (or correlated) with KIMCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIMCO RLTY P has no effect on the direction of Lifevantage i.e., Lifevantage and KIMCO go up and down completely randomly.
Pair Corralation between Lifevantage and KIMCO
Given the investment horizon of 90 days Lifevantage is expected to generate 4.87 times more return on investment than KIMCO. However, Lifevantage is 4.87 times more volatile than KIMCO RLTY P. It trades about 0.17 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about -0.23 per unit of risk. If you would invest 1,370 in Lifevantage on September 13, 2024 and sell it today you would earn a total of 155.00 from holding Lifevantage or generate 11.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lifevantage vs. KIMCO RLTY P
Performance |
| Timeline |
| Lifevantage |
| KIMCO RLTY P |
Lifevantage and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lifevantage and KIMCO
The main advantage of trading using opposite Lifevantage and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lifevantage position performs unexpectedly, KIMCO 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 KIMCO will offset losses from the drop in KIMCO's long position.| Lifevantage vs. Central Garden Pet | Lifevantage vs. Central Garden Pet | Lifevantage vs. Lifeway Foods | Lifevantage vs. Seneca Foods Corp |
| KIMCO vs. AEP TEX INC | KIMCO vs. US BANK NATIONAL | KIMCO vs. Recursion Pharmaceuticals | KIMCO vs. SoundHound AI |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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