Correlation Between RadNet and KIMCO
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By analyzing existing cross correlation between RadNet Inc and KIMCO RLTY P, you can compare the effects of market volatilities on RadNet 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 RadNet with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of RadNet and KIMCO.
Diversification Opportunities for RadNet and KIMCO
Good diversification
The 3 months correlation between RadNet and KIMCO is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding RadNet Inc 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 RadNet 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 RadNet Inc 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 RadNet i.e., RadNet and KIMCO go up and down completely randomly.
Pair Corralation between RadNet and KIMCO
Given the investment horizon of 90 days RadNet Inc is expected to under-perform the KIMCO. In addition to that, RadNet is 2.64 times more volatile than KIMCO RLTY P. It trades about -0.16 of its total potential returns per unit of risk. KIMCO RLTY P is currently generating about -0.23 per unit of volatility. If you would invest 9,955 in KIMCO RLTY P on September 12, 2024 and sell it today you would lose (334.00) from holding KIMCO RLTY P or give up 3.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
RadNet Inc vs. KIMCO RLTY P
Performance |
| Timeline |
| RadNet Inc |
| KIMCO RLTY P |
RadNet and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RadNet and KIMCO
The main advantage of trading using opposite RadNet and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RadNet 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.| RadNet vs. Neogen | RadNet vs. Myriad Genetics | RadNet vs. bioAffinity Technologies Warrant | RadNet vs. Arrayit |
| KIMCO vs. AEP TEX INC | KIMCO vs. US BANK NATIONAL | KIMCO vs. Recursion Pharmaceuticals | KIMCO vs. SoundHound AI |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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