Correlation Between KIMCO and AMCON Distributing
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By analyzing existing cross correlation between KIMCO RLTY P and AMCON Distributing, you can compare the effects of market volatilities on KIMCO and AMCON Distributing 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 AMCON Distributing. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and AMCON Distributing.
Diversification Opportunities for KIMCO and AMCON Distributing
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KIMCO and AMCON is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and AMCON Distributing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMCON Distributing 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 AMCON Distributing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMCON Distributing has no effect on the direction of KIMCO i.e., KIMCO and AMCON Distributing go up and down completely randomly.
Pair Corralation between KIMCO and AMCON Distributing
Assuming the 90 days trading horizon KIMCO RLTY P is expected to generate 40.57 times more return on investment than AMCON Distributing. However, KIMCO is 40.57 times more volatile than AMCON Distributing. It trades about 0.12 of its potential returns per unit of risk. AMCON Distributing is currently generating about 0.0 per unit of risk. If you would invest 8,089 in KIMCO RLTY P on September 4, 2024 and sell it today you would lose (503.00) from holding KIMCO RLTY P or give up 6.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 48.37% |
| Values | Daily Returns |
KIMCO RLTY P vs. AMCON Distributing
Performance |
| Timeline |
| KIMCO RLTY P |
| AMCON Distributing |
KIMCO and AMCON Distributing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and AMCON Distributing
The main advantage of trading using opposite KIMCO and AMCON Distributing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, AMCON Distributing 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 AMCON Distributing will offset losses from the drop in AMCON Distributing's long position.| KIMCO vs. Stratasys | KIMCO vs. Meiwu Technology Co | KIMCO vs. Uber Technologies | KIMCO vs. WiMi Hologram Cloud |
| AMCON Distributing vs. The Chefs Warehouse | AMCON Distributing vs. G Willi Food International | AMCON Distributing vs. SpartanNash Co | AMCON Distributing vs. Calavo Growers |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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