Correlation Between 226373AT5 and Kura Sushi
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By analyzing existing cross correlation between CMLP 7375 01 FEB 31 and Kura Sushi USA, you can compare the effects of market volatilities on 226373AT5 and Kura Sushi 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 226373AT5 with a short position of Kura Sushi. Check out your portfolio center. Please also check ongoing floating volatility patterns of 226373AT5 and Kura Sushi.
Diversification Opportunities for 226373AT5 and Kura Sushi
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 226373AT5 and Kura is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding CMLP 7375 01 FEB 31 and Kura Sushi USA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kura Sushi USA and 226373AT5 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 CMLP 7375 01 FEB 31 are associated (or correlated) with Kura Sushi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kura Sushi USA has no effect on the direction of 226373AT5 i.e., 226373AT5 and Kura Sushi go up and down completely randomly.
Pair Corralation between 226373AT5 and Kura Sushi
Assuming the 90 days trading horizon 226373AT5 is expected to generate 36.31 times less return on investment than Kura Sushi. But when comparing it to its historical volatility, CMLP 7375 01 FEB 31 is 33.26 times less risky than Kura Sushi. It trades about 0.17 of its potential returns per unit of risk. Kura Sushi USA is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 9,291 in Kura Sushi USA on September 3, 2024 and sell it today you would earn a total of 1,401 from holding Kura Sushi USA or generate 15.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 70.0% |
| Values | Daily Returns |
CMLP 7375 01 FEB 31 vs. Kura Sushi USA
Performance |
| Timeline |
| CMLP 7375 01 |
| Kura Sushi USA |
226373AT5 and Kura Sushi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 226373AT5 and Kura Sushi
The main advantage of trading using opposite 226373AT5 and Kura Sushi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 226373AT5 position performs unexpectedly, Kura Sushi 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 Kura Sushi will offset losses from the drop in Kura Sushi's long position.| 226373AT5 vs. Kura Sushi USA | 226373AT5 vs. WEBTOON Entertainment Common | 226373AT5 vs. The Wendys Co | 226373AT5 vs. Shake Shack |
| Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Jack In The |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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