Correlation Between LINE and Kaltura
Can any of the company-specific risk be diversified away by investing in both LINE and Kaltura 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 LINE and Kaltura into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LINE Corporation and Kaltura, you can compare the effects of market volatilities on LINE and Kaltura 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 LINE with a short position of Kaltura. Check out your portfolio center. Please also check ongoing floating volatility patterns of LINE and Kaltura.
Diversification Opportunities for LINE and Kaltura
Pay attention - limited upside
The 3 months correlation between LINE and Kaltura is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding LINE Corp. and Kaltura in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kaltura and LINE 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 LINE Corporation are associated (or correlated) with Kaltura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kaltura has no effect on the direction of LINE i.e., LINE and Kaltura go up and down completely randomly.
Pair Corralation between LINE and Kaltura
If you would invest (100.00) in LINE Corporation on January 30, 2024 and sell it today you would earn a total of 100.00 from holding LINE Corporation 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 |
LINE Corp. vs. Kaltura
Performance |
Timeline |
LINE |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kaltura |
LINE and Kaltura Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with LINE and Kaltura
The main advantage of trading using opposite LINE and Kaltura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LINE position performs unexpectedly, Kaltura 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 Kaltura will offset losses from the drop in Kaltura's long position.LINE vs. Artisan Partners Asset | LINE vs. Sabra Healthcare REIT | LINE vs. Inflection Point Acquisition | LINE vs. Sligro Food Group |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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