Correlation Between Skechers USA and KIMCO
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By analyzing existing cross correlation between Skechers USA and KIMCO RLTY P, you can compare the effects of market volatilities on Skechers USA 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 Skechers USA with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Skechers USA and KIMCO.
Diversification Opportunities for Skechers USA and KIMCO
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Skechers and KIMCO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Skechers USA 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 Skechers USA 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 Skechers USA 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 Skechers USA i.e., Skechers USA and KIMCO go up and down completely randomly.
Pair Corralation between Skechers USA and KIMCO
If you would invest 6,729 in Skechers USA on November 2, 2024 and sell it today you would earn a total of 1,095 from holding Skechers USA or generate 16.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Skechers USA vs. KIMCO RLTY P
Performance |
| Timeline |
| Skechers USA |
| KIMCO RLTY P |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Skechers USA and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Skechers USA and KIMCO
The main advantage of trading using opposite Skechers USA and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Skechers USA 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.| Skechers USA vs. Crocs Inc | Skechers USA vs. On Holding | Skechers USA vs. Nike Inc | Skechers USA vs. Designer Brands |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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