Correlation Between KIMCO and Beyond Meat
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By analyzing existing cross correlation between KIMCO RLTY P and Beyond Meat, you can compare the effects of market volatilities on KIMCO and Beyond Meat 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 KIMCO with a short position of Beyond Meat. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Beyond Meat.
Diversification Opportunities for KIMCO and Beyond Meat
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between KIMCO and Beyond is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Beyond Meat in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beyond Meat and KIMCO 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 KIMCO RLTY P are associated (or correlated) with Beyond Meat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beyond Meat has no effect on the direction of KIMCO i.e., KIMCO and Beyond Meat go up and down completely randomly.
Pair Corralation between KIMCO and Beyond Meat
Assuming the 90 days trading horizon KIMCO RLTY P is expected to generate 1.0 times more return on investment than Beyond Meat. However, KIMCO is 1.0 times more volatile than Beyond Meat. It trades about -0.03 of its potential returns per unit of risk. Beyond Meat is currently generating about -0.16 per unit of risk. If you would invest 8,688 in KIMCO RLTY P on September 12, 2024 and sell it today you would lose (443.00) from holding KIMCO RLTY P or give up 5.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 49.21% |
| Values | Daily Returns |
KIMCO RLTY P vs. Beyond Meat
Performance |
| Timeline |
| KIMCO RLTY P |
| Beyond Meat |
KIMCO and Beyond Meat Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Beyond Meat
The main advantage of trading using opposite KIMCO and Beyond Meat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Beyond Meat 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 Beyond Meat will offset losses from the drop in Beyond Meat's long position.The idea behind KIMCO RLTY P and Beyond Meat pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Beyond Meat vs. Kraft Heinz Co | Beyond Meat vs. Hormel Foods | Beyond Meat vs. Kellanova | Beyond Meat vs. General Mills |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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