Correlation Between WiMi Hologram and KIMCO
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By analyzing existing cross correlation between WiMi Hologram Cloud and KIMCO RLTY P, you can compare the effects of market volatilities on WiMi Hologram and KIMCO 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 WiMi Hologram with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of WiMi Hologram and KIMCO.
Diversification Opportunities for WiMi Hologram and KIMCO
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between WiMi and KIMCO is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding WiMi Hologram Cloud and KIMCO RLTY P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIMCO RLTY P and WiMi Hologram 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 WiMi Hologram Cloud are associated (or correlated) with KIMCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIMCO RLTY P has no effect on the direction of WiMi Hologram i.e., WiMi Hologram and KIMCO go up and down completely randomly.
Pair Corralation between WiMi Hologram and KIMCO
Given the investment horizon of 90 days WiMi Hologram Cloud is expected to generate 0.83 times more return on investment than KIMCO. However, WiMi Hologram Cloud is 1.21 times less risky than KIMCO. It trades about 0.17 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about 0.04 per unit of risk. If you would invest 86.00 in WiMi Hologram Cloud on September 12, 2024 and sell it today you would earn a total of 15.00 from holding WiMi Hologram Cloud or generate 17.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 54.55% |
| Values | Daily Returns |
WiMi Hologram Cloud vs. KIMCO RLTY P
Performance |
| Timeline |
| WiMi Hologram Cloud |
| KIMCO RLTY P |
WiMi Hologram and KIMCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WiMi Hologram and KIMCO
The main advantage of trading using opposite WiMi Hologram and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WiMi Hologram position performs unexpectedly, KIMCO 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 KIMCO will offset losses from the drop in KIMCO's long position.| WiMi Hologram vs. National CineMedia | WiMi Hologram vs. Baosheng Media Group | WiMi Hologram vs. Townsquare Media | WiMi Hologram vs. Dolphin Entertainment |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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