Correlation Between Kaman and Moog
Can any of the company-specific risk be diversified away by investing in both Kaman and Moog 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 Kaman and Moog into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaman and Moog Inc, you can compare the effects of market volatilities on Kaman and Moog 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 Kaman with a short position of Moog. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaman and Moog.
Diversification Opportunities for Kaman and Moog
Pay attention - limited upside
The 3 months correlation between Kaman and Moog is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kaman and Moog Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moog Inc and Kaman 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 Kaman are associated (or correlated) with Moog. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moog Inc has no effect on the direction of Kaman i.e., Kaman and Moog go up and down completely randomly.
Pair Corralation between Kaman and Moog
If you would invest 17,016 in Moog Inc on March 10, 2025 and sell it today you would earn a total of 1,553 from holding Moog Inc or generate 9.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Kaman vs. Moog Inc
Performance |
| Timeline |
| Kaman |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Moog Inc |
Kaman and Moog Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaman and Moog
The main advantage of trading using opposite Kaman and Moog positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaman position performs unexpectedly, Moog 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 Moog will offset losses from the drop in Moog's long position.| Kaman vs. Ducommun Incorporated | Kaman vs. Innovative Solutions and | Kaman vs. National Presto Industries | Kaman vs. Astronics |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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