Correlation Between Zwipe AS and Kindred Group
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By analyzing existing cross correlation between Zwipe AS and Kindred Group plc, you can compare the effects of market volatilities on Zwipe AS and Kindred Group 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 Zwipe AS with a short position of Kindred Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zwipe AS and Kindred Group.
Diversification Opportunities for Zwipe AS and Kindred Group
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Zwipe and Kindred is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Zwipe AS and Kindred Group plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kindred Group plc and Zwipe AS 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 Zwipe AS are associated (or correlated) with Kindred Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kindred Group plc has no effect on the direction of Zwipe AS i.e., Zwipe AS and Kindred Group go up and down completely randomly.
Pair Corralation between Zwipe AS and Kindred Group
Assuming the 90 days trading horizon Zwipe AS is expected to under-perform the Kindred Group. In addition to that, Zwipe AS is 79.07 times more volatile than Kindred Group plc. It trades about -0.31 of its total potential returns per unit of risk. Kindred Group plc is currently generating about 1.16 per unit of volatility. If you would invest 12,750 in Kindred Group plc on August 29, 2024 and sell it today you would earn a total of 160.00 from holding Kindred Group plc or generate 1.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 52.17% |
| Values | Daily Returns |
Zwipe AS vs. Kindred Group plc
Performance |
| Timeline |
| Zwipe AS |
| Kindred Group plc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
Zwipe AS and Kindred Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zwipe AS and Kindred Group
The main advantage of trading using opposite Zwipe AS and Kindred Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zwipe AS position performs unexpectedly, Kindred Group 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 Kindred Group will offset losses from the drop in Kindred Group's long position.| Zwipe AS vs. Goobit Group AB | Zwipe AS vs. CoinShares International | Zwipe AS vs. Zignsec AB | Zwipe AS vs. Checkin Group AB |
| Kindred Group vs. Betsson AB | Kindred Group vs. Evolution AB | Kindred Group vs. Embracer Group AB | Kindred Group vs. Catena Media plc |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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