Correlation Between Meiwu Technology and Kite Realty
Can any of the company-specific risk be diversified away by investing in both Meiwu Technology and Kite Realty at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Meiwu Technology and Kite Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Meiwu Technology Co and Kite Realty Group, you can compare the effects of market volatilities on Meiwu Technology and Kite Realty 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 Meiwu Technology with a short position of Kite Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and Kite Realty.
Diversification Opportunities for Meiwu Technology and Kite Realty
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Meiwu and Kite is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and Kite Realty Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kite Realty Group and Meiwu Technology 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 Meiwu Technology Co are associated (or correlated) with Kite Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kite Realty Group has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and Kite Realty go up and down completely randomly.
Pair Corralation between Meiwu Technology and Kite Realty
Considering the 90-day investment horizon Meiwu Technology Co is expected to generate 3.49 times more return on investment than Kite Realty. However, Meiwu Technology is 3.49 times more volatile than Kite Realty Group. It trades about 0.32 of its potential returns per unit of risk. Kite Realty Group is currently generating about 0.31 per unit of risk. If you would invest 79.00 in Meiwu Technology Co on August 31, 2024 and sell it today you would earn a total of 21.00 from holding Meiwu Technology Co or generate 26.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Meiwu Technology Co vs. Kite Realty Group
Performance |
| Timeline |
| Meiwu Technology |
| Kite Realty Group |
Meiwu Technology and Kite Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and Kite Realty
The main advantage of trading using opposite Meiwu Technology and Kite Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, Kite Realty 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 Kite Realty will offset losses from the drop in Kite Realty's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| Kite Realty vs. Site Centers Corp | Kite Realty vs. CBL Associates Properties | Kite Realty vs. Urban Edge Properties | Kite Realty vs. Acadia Realty Trust |
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.
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