Correlation Between Short Term and KIMCO
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By analyzing existing cross correlation between Short Term Fund A and KIMCO RLTY P, you can compare the effects of market volatilities on Short Term 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 Short Term with a short position of KIMCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Short Term and KIMCO.
Diversification Opportunities for Short Term and KIMCO
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Short and KIMCO is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Fund A 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 Short Term 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 Short Term Fund A 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 Short Term i.e., Short Term and KIMCO go up and down completely randomly.
Pair Corralation between Short Term and KIMCO
Assuming the 90 days horizon Short Term Fund A is expected to generate 0.85 times more return on investment than KIMCO. However, Short Term Fund A is 1.17 times less risky than KIMCO. It trades about 0.31 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 962.00 in Short Term Fund A on September 25, 2024 and sell it today you would earn a total of 6.00 from holding Short Term Fund A or generate 0.62% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Short Term Fund A vs. KIMCO RLTY P
Performance |
Timeline |
Short Term Fund |
KIMCO RLTY P |
Short Term and KIMCO Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Short Term and KIMCO
The main advantage of trading using opposite Short Term and KIMCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Short Term 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.Short Term vs. Pimco Rae Worldwide | Short Term vs. Pimco Rae Worldwide | Short Term vs. Pimco Rae Worldwide | Short Term vs. Pimco Rae Worldwide |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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