Correlation Between KBL Merger and Marubeni Corp
Can any of the company-specific risk be diversified away by investing in both KBL Merger and Marubeni Corp 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 KBL Merger and Marubeni Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KBL Merger Corp and Marubeni Corp ADR, you can compare the effects of market volatilities on KBL Merger and Marubeni Corp 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 KBL Merger with a short position of Marubeni Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of KBL Merger and Marubeni Corp.
Diversification Opportunities for KBL Merger and Marubeni Corp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KBL and Marubeni is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KBL Merger Corp and Marubeni Corp ADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marubeni Corp ADR and KBL Merger 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 KBL Merger Corp are associated (or correlated) with Marubeni Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marubeni Corp ADR has no effect on the direction of KBL Merger i.e., KBL Merger and Marubeni Corp go up and down completely randomly.
Pair Corralation between KBL Merger and Marubeni Corp
If you would invest (100.00) in KBL Merger Corp on January 25, 2024 and sell it today you would earn a total of 100.00 from holding KBL Merger Corp or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
KBL Merger Corp vs. Marubeni Corp ADR
Performance |
| Timeline |
| KBL Merger Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Marubeni Corp ADR |
KBL Merger and Marubeni Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KBL Merger and Marubeni Corp
The main advantage of trading using opposite KBL Merger and Marubeni Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KBL Merger position performs unexpectedly, Marubeni Corp 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 Marubeni Corp will offset losses from the drop in Marubeni Corp's long position.| KBL Merger vs. Kinetik Holdings | KBL Merger vs. John Wiley Sons | KBL Merger vs. Lincoln Educational Services | KBL Merger vs. Acco Brands |
| Marubeni Corp vs. Grupo Bimbo SAB | Marubeni Corp vs. Grupo Financiero Inbursa | Marubeni Corp vs. Arca Continental SAB | Marubeni Corp vs. Becle SA de |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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