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
Very good diversification
The 3 months correlation between KIMCO and Dow is -0.35. 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 RLTY P is expected to under-perform the Dow Jones. But the bond apears to be less risky and, when comparing its historical volatility, KIMCO RLTY P is 2.71 times less risky than Dow Jones. The bond trades about -0.01 of its potential returns per unit of risk. The Dow Jones Industrial is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 3,396,635 in Dow Jones Industrial on September 4, 2024 and sell it today you would earn a total of 1,081,565 from holding Dow Jones Industrial or generate 31.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.78% |
| 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. Everus Construction Group | KIMCO vs. Topbuild Corp | KIMCO vs. RadNet Inc | KIMCO vs. Seadrill Limited |
| Dow Jones vs. Gentex | Dow Jones vs. American Axle Manufacturing | Dow Jones vs. Pearson PLC ADR | Dow Jones vs. Marine Products |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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