Correlation Between 59523UAP2 and Kulicke
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By analyzing existing cross correlation between MID AMERICA APTS L and Kulicke and Soffa, you can compare the effects of market volatilities on 59523UAP2 and Kulicke 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 59523UAP2 with a short position of Kulicke. Check out your portfolio center. Please also check ongoing floating volatility patterns of 59523UAP2 and Kulicke.
Diversification Opportunities for 59523UAP2 and Kulicke
Very good diversification
The 3 months correlation between 59523UAP2 and Kulicke is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding MID AMERICA APTS L and Kulicke and Soffa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kulicke and Soffa and 59523UAP2 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 MID AMERICA APTS L are associated (or correlated) with Kulicke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kulicke and Soffa has no effect on the direction of 59523UAP2 i.e., 59523UAP2 and Kulicke go up and down completely randomly.
Pair Corralation between 59523UAP2 and Kulicke
Assuming the 90 days trading horizon MID AMERICA APTS L is expected to generate 24.06 times more return on investment than Kulicke. However, 59523UAP2 is 24.06 times more volatile than Kulicke and Soffa. It trades about 0.05 of its potential returns per unit of risk. Kulicke and Soffa is currently generating about 0.02 per unit of risk. If you would invest 9,757 in MID AMERICA APTS L on September 4, 2024 and sell it today you would lose (397.00) from holding MID AMERICA APTS L or give up 4.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 68.89% |
| Values | Daily Returns |
MID AMERICA APTS L vs. Kulicke and Soffa
Performance |
| Timeline |
| MID AMERICA APTS |
| Kulicke and Soffa |
59523UAP2 and Kulicke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 59523UAP2 and Kulicke
The main advantage of trading using opposite 59523UAP2 and Kulicke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 59523UAP2 position performs unexpectedly, Kulicke 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 Kulicke will offset losses from the drop in Kulicke's long position.| 59523UAP2 vs. AEP TEX INC | 59523UAP2 vs. US BANK NATIONAL | 59523UAP2 vs. Jackson Financial | 59523UAP2 vs. MetLife |
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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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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