Correlation Between KIMCO and Senmiao Technology
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By analyzing existing cross correlation between KIMCO RLTY P and Senmiao Technology, you can compare the effects of market volatilities on KIMCO and Senmiao Technology 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 Senmiao Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Senmiao Technology.
Diversification Opportunities for KIMCO and Senmiao Technology
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between KIMCO and Senmiao is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Senmiao Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senmiao Technology 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 Senmiao Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senmiao Technology has no effect on the direction of KIMCO i.e., KIMCO and Senmiao Technology go up and down completely randomly.
Pair Corralation between KIMCO and Senmiao Technology
Assuming the 90 days trading horizon KIMCO RLTY P is expected to under-perform the Senmiao Technology. In addition to that, KIMCO is 1.17 times more volatile than Senmiao Technology. It trades about -0.07 of its total potential returns per unit of risk. Senmiao Technology is currently generating about -0.04 per unit of volatility. If you would invest 93.00 in Senmiao Technology on September 13, 2024 and sell it today you would lose (5.00) from holding Senmiao Technology or give up 5.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 42.86% |
| Values | Daily Returns |
KIMCO RLTY P vs. Senmiao Technology
Performance |
| Timeline |
| KIMCO RLTY P |
| Senmiao Technology |
KIMCO and Senmiao Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Senmiao Technology
The main advantage of trading using opposite KIMCO and Senmiao Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Senmiao Technology 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 Senmiao Technology will offset losses from the drop in Senmiao Technology's long position.| KIMCO vs. QBE Insurance Group | KIMCO vs. Old Republic International | KIMCO vs. Palomar Holdings | KIMCO vs. Employers Holdings |
| Senmiao Technology vs. Visa Class A | Senmiao Technology vs. PayPal Holdings | Senmiao Technology vs. Upstart Holdings | Senmiao Technology vs. Mastercard |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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