Correlation Between Micro Leasing and KTBST Mixed
Specify exactly 2 symbols:
By analyzing existing cross correlation between Micro Leasing Public and KTBST Mixed Leasehold, you can compare the effects of market volatilities on Micro Leasing and KTBST Mixed 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 Micro Leasing with a short position of KTBST Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Micro Leasing and KTBST Mixed.
Diversification Opportunities for Micro Leasing and KTBST Mixed
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Micro and KTBST is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Micro Leasing Public and KTBST Mixed Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTBST Mixed Leasehold and Micro Leasing 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 Micro Leasing Public are associated (or correlated) with KTBST Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTBST Mixed Leasehold has no effect on the direction of Micro Leasing i.e., Micro Leasing and KTBST Mixed go up and down completely randomly.
Pair Corralation between Micro Leasing and KTBST Mixed
Assuming the 90 days trading horizon Micro Leasing Public is expected to under-perform the KTBST Mixed. In addition to that, Micro Leasing is 2.99 times more volatile than KTBST Mixed Leasehold. It trades about -0.34 of its total potential returns per unit of risk. KTBST Mixed Leasehold is currently generating about 0.02 per unit of volatility. If you would invest 647.00 in KTBST Mixed Leasehold on August 30, 2024 and sell it today you would earn a total of 3.00 from holding KTBST Mixed Leasehold or generate 0.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Micro Leasing Public vs. KTBST Mixed Leasehold
Performance |
| Timeline |
| Micro Leasing Public |
| KTBST Mixed Leasehold |
Micro Leasing and KTBST Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Micro Leasing and KTBST Mixed
The main advantage of trading using opposite Micro Leasing and KTBST Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Micro Leasing position performs unexpectedly, KTBST Mixed 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 KTBST Mixed will offset losses from the drop in KTBST Mixed's long position.| Micro Leasing vs. Amanah Leasing Public | Micro Leasing vs. Infraset Public | Micro Leasing vs. JMT Network Services |
| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |