Correlation Between Stratasys and KIMCO
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By analyzing existing cross correlation between Stratasys and KIMCO RLTY P, you can compare the effects of market volatilities on Stratasys 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 Stratasys with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stratasys and KIMCO.
Diversification Opportunities for Stratasys and KIMCO
Good diversification
The 3 months correlation between Stratasys and KIMCO is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Stratasys 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 Stratasys 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 Stratasys 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 Stratasys i.e., Stratasys and KIMCO go up and down completely randomly.
Pair Corralation between Stratasys and KIMCO
Given the investment horizon of 90 days Stratasys is expected to generate 2019.59 times less return on investment than KIMCO. But when comparing it to its historical volatility, Stratasys is 40.18 times less risky than KIMCO. It trades about 0.0 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 8,089 in KIMCO RLTY P on September 5, 2024 and sell it today you would earn a total of 156.00 from holding KIMCO RLTY P or generate 1.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 48.08% |
| Values | Daily Returns |
Stratasys vs. KIMCO RLTY P
Performance |
| Timeline |
| Stratasys |
| KIMCO RLTY P |
Stratasys and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stratasys and KIMCO
The main advantage of trading using opposite Stratasys and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stratasys 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.| Stratasys vs. Nano Dimension | Stratasys vs. IONQ Inc | Stratasys vs. D Wave Quantum | Stratasys vs. Desktop Metal |
| KIMCO vs. Stratasys | KIMCO vs. Meiwu Technology Co | KIMCO vs. Uber Technologies | KIMCO vs. WiMi Hologram Cloud |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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