Correlation Between KIMCO and Dow Jones
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By analyzing existing cross correlation between KIMCO RLTY P and Dow Jones Industrial, you can compare the effects of market volatilities on KIMCO and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Dow Jones.
Diversification Opportunities for KIMCO and Dow Jones
Good diversification
The 3 months correlation between KIMCO and Dow is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of KIMCO i.e., KIMCO and Dow Jones go up and down completely randomly.
Pair Corralation between KIMCO and Dow Jones
Assuming the 90 days trading horizon KIMCO is expected to generate 3.5 times less return on investment than Dow Jones. In addition to that, KIMCO is 2.13 times more volatile than Dow Jones Industrial. It trades about 0.04 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.33 per unit of volatility. If you would invest 4,239,227 in Dow Jones Industrial on November 3, 2024 and sell it today you would earn a total of 215,239 from holding Dow Jones Industrial or generate 5.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 33.33% |
| Values | Daily Returns |
KIMCO RLTY P vs. Dow Jones Industrial
Performance |
| Timeline |
KIMCO and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
KIMCO RLTY P
Pair trading matchups for KIMCO
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with KIMCO and Dow Jones
The main advantage of trading using opposite KIMCO and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| KIMCO vs. Park Ohio Holdings | KIMCO vs. Cimpress NV | KIMCO vs. Jacobs Solutions | KIMCO vs. Tritent International Agriculture |
| Dow Jones vs. Rambler Metals and | Dow Jones vs. Nicola Mining | Dow Jones vs. Old Dominion Freight | Dow Jones vs. United Guardian |
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 CEOs Directory module to screen CEOs from public companies around the world.
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