Correlation Between Repligen and Kaltura
Can any of the company-specific risk be diversified away by investing in both Repligen and Kaltura 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 Repligen and Kaltura into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Repligen and Kaltura, you can compare the effects of market volatilities on Repligen and Kaltura 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 Repligen with a short position of Kaltura. Check out your portfolio center. Please also check ongoing floating volatility patterns of Repligen and Kaltura.
Diversification Opportunities for Repligen and Kaltura
Pay attention - limited upside
The 3 months correlation between Repligen and Kaltura is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Repligen and Kaltura in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kaltura and Repligen 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 Repligen are associated (or correlated) with Kaltura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kaltura has no effect on the direction of Repligen i.e., Repligen and Kaltura go up and down completely randomly.
Pair Corralation between Repligen and Kaltura
Given the investment horizon of 90 days Repligen is expected to generate 5.68 times less return on investment than Kaltura. But when comparing it to its historical volatility, Repligen is 1.3 times less risky than Kaltura. It trades about 0.07 of its potential returns per unit of risk. Kaltura is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest 128.00 in Kaltura on September 3, 2024 and sell it today you would earn a total of 94.00 from holding Kaltura or generate 73.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Repligen vs. Kaltura
Performance |
| Timeline |
| Repligen |
| Kaltura |
Repligen and Kaltura Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Repligen and Kaltura
The main advantage of trading using opposite Repligen and Kaltura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Repligen position performs unexpectedly, Kaltura 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 Kaltura will offset losses from the drop in Kaltura's long position.| Repligen vs. Intuitive Surgical | Repligen vs. ResMed Inc | Repligen vs. Merit Medical Systems | Repligen vs. ICU Medical |
| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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