Correlation Between 90331HPL1 and Kopin
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By analyzing existing cross correlation between US BANK NATIONAL and Kopin, you can compare the effects of market volatilities on 90331HPL1 and Kopin 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 90331HPL1 with a short position of Kopin. Check out your portfolio center. Please also check ongoing floating volatility patterns of 90331HPL1 and Kopin.
Diversification Opportunities for 90331HPL1 and Kopin
Good diversification
The 3 months correlation between 90331HPL1 and Kopin is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding US BANK NATIONAL and Kopin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kopin and 90331HPL1 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 US BANK NATIONAL are associated (or correlated) with Kopin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kopin has no effect on the direction of 90331HPL1 i.e., 90331HPL1 and Kopin go up and down completely randomly.
Pair Corralation between 90331HPL1 and Kopin
Assuming the 90 days trading horizon US BANK NATIONAL is expected to under-perform the Kopin. But the bond apears to be less risky and, when comparing its historical volatility, US BANK NATIONAL is 8.82 times less risky than Kopin. The bond trades about -0.52 of its potential returns per unit of risk. The Kopin is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 143.00 in Kopin on October 26, 2024 and sell it today you would earn a total of 66.50 from holding Kopin or generate 46.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 42.11% |
| Values | Daily Returns |
US BANK NATIONAL vs. Kopin
Performance |
| Timeline |
| US BANK NATIONAL |
| Kopin |
90331HPL1 and Kopin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 90331HPL1 and Kopin
The main advantage of trading using opposite 90331HPL1 and Kopin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 90331HPL1 position performs unexpectedly, Kopin 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 Kopin will offset losses from the drop in Kopin's long position.| 90331HPL1 vs. Celsius Holdings | 90331HPL1 vs. LB Foster | 90331HPL1 vs. Delek Logistics Partners | 90331HPL1 vs. Skillful Craftsman Education |
| Kopin vs. Universal Display | Kopin vs. Daktronics | Kopin vs. KULR Technology Group | Kopin vs. LightPath Technologies |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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