Correlation Between KSM Mutual and Apple
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By analyzing existing cross correlation between KSM Mutual Funds and Apple Inc, you can compare the effects of market volatilities on KSM Mutual and Apple 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 KSM Mutual with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of KSM Mutual and Apple.
Diversification Opportunities for KSM Mutual and Apple
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KSM and Apple is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding KSM Mutual Funds and Apple Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and KSM Mutual 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 KSM Mutual Funds are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple Inc has no effect on the direction of KSM Mutual i.e., KSM Mutual and Apple go up and down completely randomly.
Pair Corralation between KSM Mutual and Apple
Assuming the 90 days trading horizon KSM Mutual Funds is expected to generate 2.01 times more return on investment than Apple. However, KSM Mutual is 2.01 times more volatile than Apple Inc. It trades about 0.15 of its potential returns per unit of risk. Apple Inc is currently generating about -0.01 per unit of risk. If you would invest 78,850 in KSM Mutual Funds on February 12, 2024 and sell it today you would earn a total of 17,480 from holding KSM Mutual Funds or generate 22.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 76.56% |
| Values | Daily Returns |
KSM Mutual Funds vs. Apple Inc
Performance |
| Timeline |
| KSM Mutual Funds |
| Apple Inc |
KSM Mutual and Apple Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KSM Mutual and Apple
The main advantage of trading using opposite KSM Mutual and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KSM Mutual position performs unexpectedly, Apple 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 Apple will offset losses from the drop in Apple's long position.| KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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