Correlation Between Kaltura and HONEYWELL
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By analyzing existing cross correlation between Kaltura and HONEYWELL INTERNATIONAL INC, you can compare the effects of market volatilities on Kaltura and HONEYWELL 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 Kaltura with a short position of HONEYWELL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and HONEYWELL.
Diversification Opportunities for Kaltura and HONEYWELL
Excellent diversification
The 3 months correlation between Kaltura and HONEYWELL is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and HONEYWELL INTERNATIONAL INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HONEYWELL INTERNATIONAL and Kaltura 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 Kaltura are associated (or correlated) with HONEYWELL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HONEYWELL INTERNATIONAL has no effect on the direction of Kaltura i.e., Kaltura and HONEYWELL go up and down completely randomly.
Pair Corralation between Kaltura and HONEYWELL
Given the investment horizon of 90 days Kaltura is expected to generate 1.69 times more return on investment than HONEYWELL. However, Kaltura is 1.69 times more volatile than HONEYWELL INTERNATIONAL INC. It trades about 0.2 of its potential returns per unit of risk. HONEYWELL INTERNATIONAL INC is currently generating about 0.05 per unit of risk. If you would invest 136.00 in Kaltura on September 23, 2024 and sell it today you would earn a total of 98.00 from holding Kaltura or generate 72.06% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 69.23% |
Values | Daily Returns |
Kaltura vs. HONEYWELL INTERNATIONAL INC
Performance |
Timeline |
Kaltura |
HONEYWELL INTERNATIONAL |
Kaltura and HONEYWELL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kaltura and HONEYWELL
The main advantage of trading using opposite Kaltura and HONEYWELL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, HONEYWELL 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 HONEYWELL will offset losses from the drop in HONEYWELL's long position.Kaltura vs. Dubber Limited | Kaltura vs. Advanced Health Intelligence | Kaltura vs. Danavation Technologies Corp | Kaltura vs. BASE Inc |
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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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