Correlation Between 00774MAZ8 and Kite Realty
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By analyzing existing cross correlation between AER 385 29 OCT 41 and Kite Realty Group, you can compare the effects of market volatilities on 00774MAZ8 and Kite Realty 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 00774MAZ8 with a short position of Kite Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of 00774MAZ8 and Kite Realty.
Diversification Opportunities for 00774MAZ8 and Kite Realty
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between 00774MAZ8 and Kite is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding AER 385 29 OCT 41 and Kite Realty Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kite Realty Group and 00774MAZ8 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 AER 385 29 OCT 41 are associated (or correlated) with Kite Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kite Realty Group has no effect on the direction of 00774MAZ8 i.e., 00774MAZ8 and Kite Realty go up and down completely randomly.
Pair Corralation between 00774MAZ8 and Kite Realty
Assuming the 90 days trading horizon AER 385 29 OCT 41 is expected to under-perform the Kite Realty. In addition to that, 00774MAZ8 is 3.14 times more volatile than Kite Realty Group. It trades about -0.16 of its total potential returns per unit of risk. Kite Realty Group is currently generating about 0.32 per unit of volatility. If you would invest 2,580 in Kite Realty Group on September 2, 2024 and sell it today you would earn a total of 177.00 from holding Kite Realty Group or generate 6.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 85.71% |
| Values | Daily Returns |
AER 385 29 OCT 41 vs. Kite Realty Group
Performance |
| Timeline |
| AER 385 29 |
| Kite Realty Group |
00774MAZ8 and Kite Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 00774MAZ8 and Kite Realty
The main advantage of trading using opposite 00774MAZ8 and Kite Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 00774MAZ8 position performs unexpectedly, Kite Realty 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 Kite Realty will offset losses from the drop in Kite Realty's long position.| 00774MAZ8 vs. Kite Realty Group | 00774MAZ8 vs. The Gap, | 00774MAZ8 vs. ATRenew Inc DRC | 00774MAZ8 vs. Skillful Craftsman Education |
| Kite Realty vs. Site Centers Corp | Kite Realty vs. CBL Associates Properties | Kite Realty vs. Urban Edge Properties | Kite Realty vs. Acadia Realty Trust |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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