Correlation Analysis Between Kurita Water and Churchill Capital

This module allows you to analyze existing cross correlation between Kurita Water Inds Ltd and Churchill Capital Corp. You can compare the effects of market volatilities on Kurita Water and Churchill Capital 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 Kurita Water with a short position of Churchill Capital. See also your portfolio center. Please also check ongoing floating volatility patterns of Kurita Water and Churchill Capital.
Horizon     30 Days    Login   to change
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Comparative Performance

Kurita Water Inds  
00

Risk-Adjusted Performance

Over the last 30 days Kurita Water Inds Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Kurita Water is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
Churchill Capital Corp  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Churchill Capital Corp are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. Despite somewhat unsteady basic indicators, Churchill Capital sustained solid returns over the last few months and may actually be approaching a breakup point.

Kurita Water and Churchill Capital Volatility Contrast

Kurita Water Inds Ltd  vs.  Churchill Capital Corp

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,436  in Churchill Capital Corp on August 19, 2019 and sell it today you would earn a total of  247.00  from holding Churchill Capital Corp or generate 17.2% return on investment over 30 days.

Pair Corralation between Kurita Water and Churchill Capital

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.59%
ValuesDaily Returns

Diversification Opportunities for Kurita Water and Churchill Capital

Kurita Water Inds Ltd diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Kurita Water Inds Ltd and Churchill Capital Corp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Churchill Capital Corp and Kurita Water 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 Kurita Water Inds Ltd are associated (or correlated) with Churchill Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Churchill Capital Corp has no effect on the direction of Kurita Water i.e. Kurita Water and Churchill Capital go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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