Correlation Between My Foodie and Kkr Credit
Can any of the company-specific risk be diversified away by investing in both My Foodie and Kkr Credit 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 My Foodie and Kkr Credit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between My Foodie Box and Kkr Credit Income, you can compare the effects of market volatilities on My Foodie and Kkr Credit 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 My Foodie with a short position of Kkr Credit. Check out your portfolio center. Please also check ongoing floating volatility patterns of My Foodie and Kkr Credit.
Diversification Opportunities for My Foodie and Kkr Credit
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MBX and Kkr is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding My Foodie Box and Kkr Credit Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kkr Credit Income and My Foodie 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 My Foodie Box are associated (or correlated) with Kkr Credit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kkr Credit Income has no effect on the direction of My Foodie i.e., My Foodie and Kkr Credit go up and down completely randomly.
Pair Corralation between My Foodie and Kkr Credit
If you would invest 204.00 in Kkr Credit Income on September 14, 2024 and sell it today you would earn a total of 29.00 from holding Kkr Credit Income or generate 14.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
My Foodie Box vs. Kkr Credit Income
Performance |
| Timeline |
| My Foodie Box |
| Kkr Credit Income |
My Foodie and Kkr Credit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with My Foodie and Kkr Credit
The main advantage of trading using opposite My Foodie and Kkr Credit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if My Foodie position performs unexpectedly, Kkr Credit 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 Kkr Credit will offset losses from the drop in Kkr Credit's long position.| My Foodie vs. Aneka Tambang Tbk | My Foodie vs. Macquarie Group | My Foodie vs. Macquarie Group Ltd | My Foodie vs. Challenger |
| Kkr Credit vs. Sky Metals | Kkr Credit vs. Bell Financial Group | Kkr Credit vs. Catalyst Metals | Kkr Credit vs. Finexia Financial Group |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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