Correlation Between KROGER and Asure Software
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By analyzing existing cross correlation between KROGER 465 percent and Asure Software, you can compare the effects of market volatilities on KROGER and Asure Software 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 KROGER with a short position of Asure Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of KROGER and Asure Software.
Diversification Opportunities for KROGER and Asure Software
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between KROGER and Asure is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding KROGER 465 percent and Asure Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asure Software and KROGER 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 KROGER 465 percent are associated (or correlated) with Asure Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asure Software has no effect on the direction of KROGER i.e., KROGER and Asure Software go up and down completely randomly.
Pair Corralation between KROGER and Asure Software
Assuming the 90 days trading horizon KROGER is expected to generate 1.32 times less return on investment than Asure Software. But when comparing it to its historical volatility, KROGER 465 percent is 4.03 times less risky than Asure Software. It trades about 0.08 of its potential returns per unit of risk. Asure Software is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 941.00 in Asure Software on December 30, 2024 and sell it today you would earn a total of 20.00 from holding Asure Software or generate 2.13% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 75.81% |
Values | Daily Returns |
KROGER 465 percent vs. Asure Software
Performance |
Timeline |
KROGER 465 percent |
Asure Software |
KROGER and Asure Software Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with KROGER and Asure Software
The main advantage of trading using opposite KROGER and Asure Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KROGER position performs unexpectedly, Asure Software 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 Asure Software will offset losses from the drop in Asure Software's long position.KROGER vs. Regeneron Pharmaceuticals | KROGER vs. Verra Mobility Corp | KROGER vs. RadNet Inc | KROGER vs. Webus International Limited |
Asure Software vs. Alkami Technology | Asure Software vs. Blackbaud | Asure Software vs. Enfusion | Asure Software vs. Clearwater Analytics Holdings |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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