Correlation Between Kura Sushi and Kindly MD,

Can any of the company-specific risk be diversified away by investing in both Kura Sushi and Kindly MD, 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 Kura Sushi and Kindly MD, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Kura Sushi USA and Kindly MD, Warrants, you can compare the effects of market volatilities on Kura Sushi and Kindly MD, 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 Kura Sushi with a short position of Kindly MD,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and Kindly MD,.

Diversification Opportunities for Kura Sushi and Kindly MD,

-0.78

Correlation Coefficient

Kura Sushi  Kindly MD,

Pay attention - limited upside

The 3 months correlation between Kura and Kindly is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and Kindly MD, Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kindly MD, Warrants and Kura Sushi 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 Kura Sushi USA are associated (or correlated) with Kindly MD,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kindly MD, Warrants has no effect on the direction of Kura Sushi i.e., Kura Sushi and Kindly MD, go up and down completely randomly.

Pair Corralation between Kura Sushi and Kindly MD,

Given the investment horizon of 90 days Kura Sushi USA is expected to generate 0.23 times more return on investment than Kindly MD,. However, Kura Sushi USA is 4.31 times less risky than Kindly MD,. It trades about 0.25 of its potential returns per unit of risk. Kindly MD, Warrants is currently generating about 0.03 per unit of risk. If you would invest  6,149  in Kura Sushi USA on September 2, 2024 and sell it today you would earn a total of  4,543  from holding Kura Sushi USA or generate 73.88% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	89.06%
Values	Daily Returns

Kura Sushi USA  vs.  Kindly MD, Warrants

Kura Sushi USA

Risk-Adjusted Performance

19 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Kura Sushi USA are ranked lower than 19 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unfluctuating basic indicators, Kura Sushi unveiled solid returns over the last few months and may actually be approaching a breakup point.

Kindly MD, Warrants

Risk-Adjusted Performance

2 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Kindly MD, Warrants are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly fragile basic indicators, Kindly MD, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Kura Sushi and Kindly MD,

The main advantage of trading using opposite Kura Sushi and Kindly MD, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, Kindly MD, 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 Kindly MD, will offset losses from the drop in Kindly MD,'s long position.

The idea behind Kura Sushi USA and Kindly MD, Warrants pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.