Correlation Between Baron Select and KIMCO
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By analyzing existing cross correlation between Baron Select Funds and KIMCO RLTY P, you can compare the effects of market volatilities on Baron Select 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 Baron Select with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baron Select and KIMCO.
Diversification Opportunities for Baron Select and KIMCO
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Baron and KIMCO is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Baron Select Funds 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 Baron Select 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 Baron Select Funds 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 Baron Select i.e., Baron Select and KIMCO go up and down completely randomly.
Pair Corralation between Baron Select and KIMCO
Assuming the 90 days horizon Baron Select Funds is expected to generate 11.78 times more return on investment than KIMCO. However, Baron Select is 11.78 times more volatile than KIMCO RLTY P. It trades about 0.22 of its potential returns per unit of risk. KIMCO RLTY P is currently generating about 0.01 per unit of risk. If you would invest 1,294 in Baron Select Funds on September 25, 2024 and sell it today you would earn a total of 85.00 from holding Baron Select Funds or generate 6.57% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 95.24% |
Values | Daily Returns |
Baron Select Funds vs. KIMCO RLTY P
Performance |
Timeline |
Baron Select Funds |
KIMCO RLTY P |
Baron Select and KIMCO Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Baron Select and KIMCO
The main advantage of trading using opposite Baron Select and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baron Select 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.Baron Select vs. Veea Inc | Baron Select vs. VivoPower International PLC | Baron Select vs. Baron Real Estate | Baron Select vs. Baron Real Estate |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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