Correlation Between FS KKR and Progress Software
Can any of the company-specific risk be diversified away by investing in both FS KKR and Progress Software 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 FS KKR and Progress Software into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FS KKR Capital and Progress Software, you can compare the effects of market volatilities on FS KKR and Progress Software 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 FS KKR with a short position of Progress Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of FS KKR and Progress Software.
Diversification Opportunities for FS KKR and Progress Software
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between FSK and Progress is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding FS KKR Capital and Progress Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Progress Software and FS KKR 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 FS KKR Capital are associated (or correlated) with Progress Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Progress Software has no effect on the direction of FS KKR i.e., FS KKR and Progress Software go up and down completely randomly.
Pair Corralation between FS KKR and Progress Software
Considering the 90-day investment horizon FS KKR Capital is expected to generate 0.65 times more return on investment than Progress Software. However, FS KKR Capital is 1.55 times less risky than Progress Software. It trades about -0.08 of its potential returns per unit of risk. Progress Software is currently generating about -0.07 per unit of risk. If you would invest 1,725 in FS KKR Capital on August 28, 2025 and sell it today you would lose (129.00) from holding FS KKR Capital or give up 7.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FS KKR Capital vs. Progress Software
Performance |
| Timeline |
| FS KKR Capital |
| Progress Software |
FS KKR and Progress Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FS KKR and Progress Software
The main advantage of trading using opposite FS KKR and Progress Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FS KKR position performs unexpectedly, Progress Software 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 Progress Software will offset losses from the drop in Progress Software's long position.| FS KKR vs. Progress Software | FS KKR vs. Unity Software | FS KKR vs. Smith Micro Software | FS KKR vs. Prism Software |
| Progress Software vs. TeraForce Technology | Progress Software vs. Tencent Music Entertainment | Progress Software vs. Upland Software | Progress Software vs. Northstar Clean Technologies |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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