Correlation Between Kura Sushi and KFT
Can any of the company-specific risk be diversified away by investing in both Kura Sushi and KFT 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 KFT 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 KFT, you can compare the effects of market volatilities on Kura Sushi and KFT 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 KFT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and KFT.
Diversification Opportunities for Kura Sushi and KFT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kura and KFT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and KFT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KFT 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 KFT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KFT has no effect on the direction of Kura Sushi i.e., Kura Sushi and KFT go up and down completely randomly.
Pair Corralation between Kura Sushi and KFT
If you would invest (100.00) in KFT on February 1, 2024 and sell it today you would earn a total of 100.00 from holding KFT or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Kura Sushi USA vs. KFT
Performance |
Timeline |
Kura Sushi USA |
KFT |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kura Sushi and KFT Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kura Sushi and KFT
The main advantage of trading using opposite Kura Sushi and KFT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi position performs unexpectedly, KFT 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 KFT will offset losses from the drop in KFT's long position.Kura Sushi vs. Brinker International | Kura Sushi vs. Dennys Corp | Kura Sushi vs. Bloomin Brands | Kura Sushi vs. Chuys 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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