Correlation Between REGAL ASIAN and Kkr Credit
Can any of the company-specific risk be diversified away by investing in both REGAL ASIAN 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 REGAL ASIAN and Kkr Credit into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between REGAL ASIAN INVESTMENTS and Kkr Credit Income, you can compare the effects of market volatilities on REGAL ASIAN 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 REGAL ASIAN with a short position of Kkr Credit. Check out your portfolio center. Please also check ongoing floating volatility patterns of REGAL ASIAN and Kkr Credit.
Diversification Opportunities for REGAL ASIAN and Kkr Credit
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between REGAL and Kkr is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding REGAL ASIAN INVESTMENTS 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 REGAL ASIAN 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 REGAL ASIAN INVESTMENTS 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 REGAL ASIAN i.e., REGAL ASIAN and Kkr Credit go up and down completely randomly.
Pair Corralation between REGAL ASIAN and Kkr Credit
Assuming the 90 days trading horizon REGAL ASIAN INVESTMENTS is expected to under-perform the Kkr Credit. In addition to that, REGAL ASIAN is 2.2 times more volatile than Kkr Credit Income. It trades about -0.12 of its total potential returns per unit of risk. Kkr Credit Income is currently generating about 0.02 per unit of volatility. If you would invest 232.00 in Kkr Credit Income on September 13, 2024 and sell it today you would earn a total of 1.00 from holding Kkr Credit Income or generate 0.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
REGAL ASIAN INVESTMENTS vs. Kkr Credit Income
Performance |
| Timeline |
| REGAL ASIAN INVESTMENTS |
| Kkr Credit Income |
REGAL ASIAN and Kkr Credit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with REGAL ASIAN and Kkr Credit
The main advantage of trading using opposite REGAL ASIAN and Kkr Credit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if REGAL ASIAN 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.| REGAL ASIAN vs. Skycity Entertainment Group | REGAL ASIAN vs. COAST ENTERTAINMENT HOLDINGS | REGAL ASIAN vs. Alto Metals | REGAL ASIAN vs. Dalaroo Metals |
| Kkr Credit vs. Mayfield Childcare | Kkr Credit vs. Bank of Queensland | Kkr Credit vs. Dexus Convenience Retail | Kkr Credit vs. Pioneer Credit |
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 Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |