Correlation Between Old Republic and KIMCO
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By analyzing existing cross correlation between Old Republic International and KIMCO RLTY P, you can compare the effects of market volatilities on Old Republic 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 Old Republic with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Old Republic and KIMCO.
Diversification Opportunities for Old Republic and KIMCO
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Old and KIMCO is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Old Republic International 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 Old Republic 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 Old Republic International 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 Old Republic i.e., Old Republic and KIMCO go up and down completely randomly.
Pair Corralation between Old Republic and KIMCO
Considering the 90-day investment horizon Old Republic International is expected to generate 0.2 times more return on investment than KIMCO. However, Old Republic International is 4.95 times less risky than KIMCO. It trades about -0.1 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about -0.07 per unit of risk. If you would invest 3,718 in Old Republic International on September 13, 2024 and sell it today you would lose (77.00) from holding Old Republic International or give up 2.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 42.86% |
| Values | Daily Returns |
Old Republic International vs. KIMCO RLTY P
Performance |
| Timeline |
| Old Republic Interna |
| KIMCO RLTY P |
Old Republic and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Old Republic and KIMCO
The main advantage of trading using opposite Old Republic and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Old Republic 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.| Old Republic vs. Axa Equitable Holdings | Old Republic vs. American International Group | Old Republic vs. Arch Capital Group | Old Republic vs. Sun Life Financial |
| KIMCO vs. QBE Insurance Group | KIMCO vs. Old Republic International | KIMCO vs. Palomar Holdings | KIMCO vs. Employers Holdings |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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