Correlation Between Franklin International and Kma Global
Can any of the company-specific risk be diversified away by investing in both Franklin International and Kma Global 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 Franklin International and Kma Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin International Core and Kma Global Solutions, you can compare the effects of market volatilities on Franklin International and Kma Global 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 Franklin International with a short position of Kma Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin International and Kma Global.
Diversification Opportunities for Franklin International and Kma Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Kma is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin International Core and Kma Global Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kma Global Solutions and Franklin International 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 Franklin International Core are associated (or correlated) with Kma Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kma Global Solutions has no effect on the direction of Franklin International i.e., Franklin International and Kma Global go up and down completely randomly.
Pair Corralation between Franklin International and Kma Global
If you would invest 2,834 in Franklin International Core on January 21, 2024 and sell it today you would earn a total of 237.00 from holding Franklin International Core or generate 8.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 69.08% |
| Values | Daily Returns |
Franklin International Core vs. Kma Global Solutions
Performance |
| Timeline |
| Franklin International |
| Kma Global Solutions |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Franklin International and Kma Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin International and Kma Global
The main advantage of trading using opposite Franklin International and Kma Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin International position performs unexpectedly, Kma Global 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 Kma Global will offset losses from the drop in Kma Global's long position.| Franklin International vs. iShares ESG Advanced | Franklin International vs. iShares ESG Advanced | Franklin International vs. iShares ESG MSCI | Franklin International vs. iShares ESG Aware |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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