Correlation Between KSS and American Airlines

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

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

Diversification Opportunities for KSS and American Airlines

0.0
  Correlation Coefficient
KSS LIMITED
American Airlines

Pay attention - limited upside

The 3 months correlation between KSS and American is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KSS LIMITED and American Airlines Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Airlines and KSS 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 KSS LIMITED are associated (or correlated) with American Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Airlines has no effect on the direction of KSS i.e. KSS and American Airlines go up and down completely randomly.

Pair Corralation between KSS and American Airlines

If you would invest  1,251  in American Airlines Group on June 8, 2020 and sell it today you would lose (52.00)  from holding American Airlines Group or give up 4.16% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

KSS LIMITED  vs.  American Airlines Group Inc

 Performance (%) 
      Timeline 
KSS LIMITED 
00

KSS Risk-Adjusted Performance

Over the last 30 days KSS LIMITED has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, KSS is not utilizing all of its potentials. The last stock price tumult, may contribute to shorter-term losses for the shareholders.
American Airlines 
22

American Airlines Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Airlines Group are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, American Airlines revealed solid returns over the last few months and may actually be approaching a breakup point.

KSS and American Airlines Volatility Contrast

KSS LIMITED

Pair trading matchups for KSS

Check out your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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