Correlation Between KIMCO and Dominos Pizza
Specify exactly 2 symbols:
By analyzing existing cross correlation between KIMCO RLTY P and Dominos Pizza, you can compare the effects of market volatilities on KIMCO and Dominos Pizza 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 Dominos Pizza. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIMCO and Dominos Pizza.
Diversification Opportunities for KIMCO and Dominos Pizza
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KIMCO and Dominos is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding KIMCO RLTY P and Dominos Pizza in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dominos Pizza 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 Dominos Pizza. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dominos Pizza has no effect on the direction of KIMCO i.e., KIMCO and Dominos Pizza go up and down completely randomly.
Pair Corralation between KIMCO and Dominos Pizza
Assuming the 90 days trading horizon KIMCO RLTY P is expected to under-perform the Dominos Pizza. But the bond apears to be less risky and, when comparing its historical volatility, KIMCO RLTY P is 6.83 times less risky than Dominos Pizza. The bond trades about -0.01 of its potential returns per unit of risk. The Dominos Pizza is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 35,804 in Dominos Pizza on September 4, 2024 and sell it today you would earn a total of 10,814 from holding Dominos Pizza or generate 30.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.78% |
| Values | Daily Returns |
KIMCO RLTY P vs. Dominos Pizza
Performance |
| Timeline |
| KIMCO RLTY P |
| Dominos Pizza |
KIMCO and Dominos Pizza Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIMCO and Dominos Pizza
The main advantage of trading using opposite KIMCO and Dominos Pizza positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIMCO position performs unexpectedly, Dominos Pizza 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 Dominos Pizza will offset losses from the drop in Dominos Pizza's long position.| KIMCO vs. Everus Construction Group | KIMCO vs. Topbuild Corp | KIMCO vs. RadNet Inc | KIMCO vs. Seadrill Limited |
| Dominos Pizza vs. Hyatt Hotels | Dominos Pizza vs. Smart Share Global | Dominos Pizza vs. Sweetgreen | Dominos Pizza vs. Wyndham Hotels Resorts |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |