Correlation Between 674599DX0 and KVH Industries
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By analyzing existing cross correlation between OXY 75 01 NOV 96 and KVH Industries, you can compare the effects of market volatilities on 674599DX0 and KVH Industries 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 674599DX0 with a short position of KVH Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of 674599DX0 and KVH Industries.
Diversification Opportunities for 674599DX0 and KVH Industries
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 674599DX0 and KVH is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding OXY 75 01 NOV 96 and KVH Industries in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KVH Industries and 674599DX0 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 OXY 75 01 NOV 96 are associated (or correlated) with KVH Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KVH Industries has no effect on the direction of 674599DX0 i.e., 674599DX0 and KVH Industries go up and down completely randomly.
Pair Corralation between 674599DX0 and KVH Industries
Assuming the 90 days trading horizon OXY 75 01 NOV 96 is expected to under-perform the KVH Industries. In addition to that, 674599DX0 is 1.21 times more volatile than KVH Industries. It trades about -0.04 of its total potential returns per unit of risk. KVH Industries is currently generating about 0.04 per unit of volatility. If you would invest 500.00 in KVH Industries on September 3, 2024 and sell it today you would earn a total of 51.00 from holding KVH Industries or generate 10.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 30.82% |
| Values | Daily Returns |
OXY 75 01 NOV 96 vs. KVH Industries
Performance |
| Timeline |
| OXY 75 01 |
| KVH Industries |
674599DX0 and KVH Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 674599DX0 and KVH Industries
The main advantage of trading using opposite 674599DX0 and KVH Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 674599DX0 position performs unexpectedly, KVH Industries 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 KVH Industries will offset losses from the drop in KVH Industries' long position.| 674599DX0 vs. Turning Point Brands | 674599DX0 vs. Air Lease | 674599DX0 vs. Diageo PLC ADR | 674599DX0 vs. Ryanair Holdings PLC |
| KVH Industries vs. Telesat Corp | KVH Industries vs. Comtech Telecommunications Corp | KVH Industries vs. Knowles Cor | KVH Industries vs. Ituran Location and |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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