Correlation Between Trade Desk and KTL GLOBAL
Can any of the company-specific risk be diversified away by investing in both Trade Desk and KTL GLOBAL 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 Trade Desk and KTL GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Trade Desk and KTL GLOBAL, you can compare the effects of market volatilities on Trade Desk and KTL GLOBAL 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 Trade Desk with a short position of KTL GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trade Desk and KTL GLOBAL.
Diversification Opportunities for Trade Desk and KTL GLOBAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Trade and KTL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding The Trade Desk and KTL GLOBAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTL GLOBAL and Trade Desk 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 The Trade Desk are associated (or correlated) with KTL GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTL GLOBAL has no effect on the direction of Trade Desk i.e., Trade Desk and KTL GLOBAL go up and down completely randomly.
Pair Corralation between Trade Desk and KTL GLOBAL
If you would invest 12,014 in The Trade Desk on September 12, 2024 and sell it today you would earn a total of 444.00 from holding The Trade Desk or generate 3.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Trade Desk vs. KTL GLOBAL
Performance |
| Timeline |
| Trade Desk |
| KTL GLOBAL |
Trade Desk and KTL GLOBAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trade Desk and KTL GLOBAL
The main advantage of trading using opposite Trade Desk and KTL GLOBAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trade Desk position performs unexpectedly, KTL GLOBAL 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 KTL GLOBAL will offset losses from the drop in KTL GLOBAL's long position.| Trade Desk vs. Charter Communications | Trade Desk vs. Iridium Communications | Trade Desk vs. China Communications Services | Trade Desk vs. Cogent Communications Holdings |
| KTL GLOBAL vs. International Consolidated Airlines | KTL GLOBAL vs. CHINA TONTINE WINES | KTL GLOBAL vs. AEGEAN AIRLINES | KTL GLOBAL vs. Corporate Office Properties |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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