Correlation Between KIMCO and Dalata Hotel
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By analyzing existing cross correlation between KIMCO RLTY P and Dalata Hotel Group, you can compare the effects of market volatilities on KIMCO and Dalata Hotel 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 Dalata Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Dalata Hotel.
Diversification Opportunities for KIMCO and Dalata Hotel
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between KIMCO and Dalata is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Dalata Hotel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dalata Hotel Group 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 Dalata Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dalata Hotel Group has no effect on the direction of KIMCO i.e., KIMCO and Dalata Hotel go up and down completely randomly.
Pair Corralation between KIMCO and Dalata Hotel
Assuming the 90 days trading horizon KIMCO RLTY P is expected to under-perform the Dalata Hotel. But the bond apears to be less risky and, when comparing its historical volatility, KIMCO RLTY P is 7.95 times less risky than Dalata Hotel. The bond trades about -0.01 of its potential returns per unit of risk. The Dalata Hotel Group is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 336.00 in Dalata Hotel Group on September 4, 2024 and sell it today you would earn a total of 152.00 from holding Dalata Hotel Group or generate 45.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.98% |
| Values | Daily Returns |
KIMCO RLTY P vs. Dalata Hotel Group
Performance |
| Timeline |
| KIMCO RLTY P |
| Dalata Hotel Group |
KIMCO and Dalata Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Dalata Hotel
The main advantage of trading using opposite KIMCO and Dalata Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Dalata Hotel 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 Dalata Hotel will offset losses from the drop in Dalata Hotel's long position.| KIMCO vs. Everus Construction Group | KIMCO vs. Topbuild Corp | KIMCO vs. RadNet Inc | KIMCO vs. Seadrill Limited |
| Dalata Hotel vs. Apple Inc | Dalata Hotel vs. Microsoft | Dalata Hotel vs. Amazon Inc | Dalata Hotel vs. Alphabet Inc Class C |
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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