Correlation Between KAMADA and CIM COMMERICAL

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

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Can any of the company-specific risk be diversified away by investing in both KAMADA and CIM COMMERICAL at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing KAMADA and CIM COMMERICAL into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for KAMADA and CIM COMMERICAL

-0.11
Correlation
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Good diversification

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

Pair Corralation between KAMADA and CIM COMMERICAL

If you would invest  215,000  in KAMADA on April 24, 2020 and sell it today you would earn a total of  70,900  from holding KAMADA or generate 32.98% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy89.19%
ValuesDaily Returns

KAMADA  vs.  CIM COMMERICAL TRU

 Performance (%) 
      Timeline 
KAMADA 
00

KAMADA Risk-Adjusted Performance

Over the last 30 days KAMADA has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, KAMADA sustained solid returns over the last few months and may actually be approaching a breakup point.
CIM COMMERICAL TRU 
00

CIM COMMERICAL Risk-Adjusted Performance

Over the last 30 days CIM COMMERICAL TRU has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, CIM COMMERICAL is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

KAMADA and CIM COMMERICAL Volatility Contrast

 Predicted Return Density 
      Returns 
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