Correlation Between Lion One and KINDER
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By analyzing existing cross correlation between Lion One Metals and KINDER MORGAN INC, you can compare the effects of market volatilities on Lion One and KINDER 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 Lion One with a short position of KINDER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lion One and KINDER.
Diversification Opportunities for Lion One and KINDER
Good diversification
The 3 months correlation between Lion and KINDER is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Lion One Metals and KINDER MORGAN INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KINDER MORGAN INC and Lion One 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 Lion One Metals are associated (or correlated) with KINDER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KINDER MORGAN INC has no effect on the direction of Lion One i.e., Lion One and KINDER go up and down completely randomly.
Pair Corralation between Lion One and KINDER
Assuming the 90 days horizon Lion One Metals is expected to under-perform the KINDER. But the otc stock apears to be less risky and, when comparing its historical volatility, Lion One Metals is 20.67 times less risky than KINDER. The otc stock trades about -0.04 of its potential returns per unit of risk. The KINDER MORGAN INC is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 7,577 in KINDER MORGAN INC on September 3, 2024 and sell it today you would lose (970.00) from holding KINDER MORGAN INC or give up 12.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Lion One Metals vs. KINDER MORGAN INC
Performance |
| Timeline |
| Lion One Metals |
| KINDER MORGAN INC |
Lion One and KINDER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lion One and KINDER
The main advantage of trading using opposite Lion One and KINDER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lion One position performs unexpectedly, KINDER 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 KINDER will offset losses from the drop in KINDER's long position.| Lion One vs. Irving Resources | Lion One vs. Headwater Gold | Lion One vs. Novo Resources Corp | Lion One vs. Snowline Gold Corp |
| KINDER vs. Titan Machinery | KINDER vs. Perseus Mining Limited | KINDER vs. Simon Property Group | KINDER vs. Lion One Metals |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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