Correlation Between QBE Insurance and KIMCO
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By analyzing existing cross correlation between QBE Insurance Group and KIMCO RLTY P, you can compare the effects of market volatilities on QBE Insurance 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 QBE Insurance with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of QBE Insurance and KIMCO.
Diversification Opportunities for QBE Insurance and KIMCO
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between QBE and KIMCO is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding QBE Insurance Group 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 QBE Insurance 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 QBE Insurance Group 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 QBE Insurance i.e., QBE Insurance and KIMCO go up and down completely randomly.
Pair Corralation between QBE Insurance and KIMCO
Assuming the 90 days horizon QBE Insurance Group is expected to generate 0.5 times more return on investment than KIMCO. However, QBE Insurance Group is 1.98 times less risky than KIMCO. It trades about 0.07 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 1,165 in QBE Insurance Group on September 13, 2024 and sell it today you would earn a total of 36.00 from holding QBE Insurance Group or generate 3.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 42.86% |
| Values | Daily Returns |
QBE Insurance Group vs. KIMCO RLTY P
Performance |
| Timeline |
| QBE Insurance Group |
| KIMCO RLTY P |
QBE Insurance and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QBE Insurance and KIMCO
The main advantage of trading using opposite QBE Insurance and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QBE Insurance 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.| QBE Insurance vs. Root Inc | QBE Insurance vs. Bank of America | QBE Insurance vs. Aerovate Therapeutics | QBE Insurance vs. SoundHound AI |
| 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 Stocks Directory module to find actively traded stocks across global markets.
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