Correlation Between KIMCO and Stratasys
Specify exactly 2 symbols:
By analyzing existing cross correlation between KIMCO RLTY P and Stratasys, you can compare the effects of market volatilities on KIMCO and Stratasys 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 Stratasys. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Stratasys.
Diversification Opportunities for KIMCO and Stratasys
Very good diversification
The 3 months correlation between KIMCO and Stratasys is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Stratasys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stratasys 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 Stratasys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stratasys has no effect on the direction of KIMCO i.e., KIMCO and Stratasys go up and down completely randomly.
Pair Corralation between KIMCO and Stratasys
Assuming the 90 days trading horizon KIMCO is expected to generate 4.12 times less return on investment than Stratasys. In addition to that, KIMCO is 1.13 times more volatile than Stratasys. It trades about 0.04 of its total potential returns per unit of risk. Stratasys is currently generating about 0.17 per unit of volatility. If you would invest 875.00 in Stratasys on September 12, 2024 and sell it today you would earn a total of 159.00 from holding Stratasys or generate 18.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 54.55% |
| Values | Daily Returns |
KIMCO RLTY P vs. Stratasys
Performance |
| Timeline |
| KIMCO RLTY P |
| Stratasys |
KIMCO and Stratasys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Stratasys
The main advantage of trading using opposite KIMCO and Stratasys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Stratasys 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 Stratasys will offset losses from the drop in Stratasys' long position.The idea behind KIMCO RLTY P and Stratasys 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.| Stratasys vs. Victory Integrity Smallmid Cap | Stratasys vs. Hilton Worldwide Holdings | Stratasys vs. NVIDIA | Stratasys vs. JPMorgan Chase Co |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |