Correlation Between KIMCO and Natural Alternatives
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By analyzing existing cross correlation between KIMCO RLTY P and Natural Alternatives International, you can compare the effects of market volatilities on KIMCO and Natural Alternatives 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 Natural Alternatives. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Natural Alternatives.
Diversification Opportunities for KIMCO and Natural Alternatives
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KIMCO and Natural is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Natural Alternatives Internati in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natural Alternatives 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 Natural Alternatives. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natural Alternatives has no effect on the direction of KIMCO i.e., KIMCO and Natural Alternatives go up and down completely randomly.
Pair Corralation between KIMCO and Natural Alternatives
Assuming the 90 days trading horizon KIMCO RLTY P is expected to generate 41.27 times more return on investment than Natural Alternatives. However, KIMCO is 41.27 times more volatile than Natural Alternatives International. It trades about 0.12 of its potential returns per unit of risk. Natural Alternatives International is currently generating about -0.02 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 | Very Weak |
| Accuracy | 47.88% |
| Values | Daily Returns |
KIMCO RLTY P vs. Natural Alternatives Internati
Performance |
| Timeline |
| KIMCO RLTY P |
| Natural Alternatives |
KIMCO and Natural Alternatives Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Natural Alternatives
The main advantage of trading using opposite KIMCO and Natural Alternatives positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Natural Alternatives 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 Natural Alternatives will offset losses from the drop in Natural Alternatives' long position.| KIMCO vs. Stratasys | KIMCO vs. Meiwu Technology Co | KIMCO vs. Uber Technologies | KIMCO vs. WiMi Hologram Cloud |
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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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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