Correlation Between 361448AU7 and Kura Sushi
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By analyzing existing cross correlation between GATX P 52 and Kura Sushi USA, you can compare the effects of market volatilities on 361448AU7 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 361448AU7 with a short position of Kura Sushi. Check out your portfolio center. Please also check ongoing floating volatility patterns of 361448AU7 and Kura Sushi.
Diversification Opportunities for 361448AU7 and Kura Sushi
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 361448AU7 and Kura is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding GATX P 52 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 361448AU7 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 GATX P 52 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 361448AU7 i.e., 361448AU7 and Kura Sushi go up and down completely randomly.
Pair Corralation between 361448AU7 and Kura Sushi
Assuming the 90 days trading horizon GATX P 52 is expected to generate 0.18 times more return on investment than Kura Sushi. However, GATX P 52 is 5.45 times less risky than Kura Sushi. It trades about -0.04 of its potential returns per unit of risk. Kura Sushi USA is currently generating about -0.14 per unit of risk. If you would invest 9,174 in GATX P 52 on November 28, 2024 and sell it today you would lose (19.00) from holding GATX P 52 or give up 0.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 31.82% |
| Values | Daily Returns |
GATX P 52 vs. Kura Sushi USA
Performance |
| Timeline |
| GATX P 52 |
| Kura Sushi USA |
361448AU7 and Kura Sushi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 361448AU7 and Kura Sushi
The main advantage of trading using opposite 361448AU7 and Kura Sushi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 361448AU7 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.| 361448AU7 vs. AEP TEX INC | 361448AU7 vs. iShares Global Consumer | 361448AU7 vs. Caterpillar | 361448AU7 vs. 3M Company |
| 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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