Correlation Between KASPIKZ 1 and MongoDB

Can any of the company-specific risk be diversified away by investing in both KASPIKZ 1 and MongoDB 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 KASPIKZ 1 and MongoDB into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between KASPIKZ 1 and MongoDB, you can compare the effects of market volatilities on KASPIKZ 1 and MongoDB 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 KASPIKZ 1 with a short position of MongoDB. Check out your portfolio center. Please also check ongoing floating volatility patterns of KASPIKZ 1 and MongoDB.

Diversification Opportunities for KASPIKZ 1 and MongoDB

0.11

Correlation Coefficient

KASPIKZ 1  MongoDB

Average diversification

The 3 months correlation between KASPIKZ and MongoDB is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding KASPIKZ 1 and MongoDB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MongoDB and KASPIKZ 1 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 KASPIKZ 1 are associated (or correlated) with MongoDB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MongoDB has no effect on the direction of KASPIKZ 1 i.e., KASPIKZ 1 and MongoDB go up and down completely randomly.

Pair Corralation between KASPIKZ 1 and MongoDB

Assuming the 90 days horizon KASPIKZ 1 is expected to generate 0.85 times more return on investment than MongoDB. However, KASPIKZ 1 is 1.18 times less risky than MongoDB. It trades about 0.09 of its potential returns per unit of risk. MongoDB is currently generating about 0.04 per unit of risk. If you would invest  7,320  in KASPIKZ 1 on May 15, 2025 and sell it today you would earn a total of  980.00  from holding KASPIKZ 1 or generate 13.39% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	98.46%
Values	Daily Returns

KASPIKZ 1  vs.  MongoDB

KASPIKZ 1

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in KASPIKZ 1 are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak basic indicators, KASPIKZ 1 reported solid returns over the last few months and may actually be approaching a breakup point.

MongoDB

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in MongoDB are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, MongoDB may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with KASPIKZ 1 and MongoDB

The main advantage of trading using opposite KASPIKZ 1 and MongoDB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KASPIKZ 1 position performs unexpectedly, MongoDB 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 MongoDB will offset losses from the drop in MongoDB's long position.

The idea behind KASPIKZ 1 and MongoDB 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.

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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.