Correlation Between Kyndryl Holdings and ASGN
Can any of the company-specific risk be diversified away by investing in both Kyndryl Holdings and ASGN 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 Kyndryl Holdings and ASGN into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kyndryl Holdings and ASGN Inc, you can compare the effects of market volatilities on Kyndryl Holdings and ASGN 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 Kyndryl Holdings with a short position of ASGN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kyndryl Holdings and ASGN.
Diversification Opportunities for Kyndryl Holdings and ASGN
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kyndryl and ASGN is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Kyndryl Holdings and ASGN Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASGN Inc and Kyndryl Holdings 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 Kyndryl Holdings are associated (or correlated) with ASGN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASGN Inc has no effect on the direction of Kyndryl Holdings i.e., Kyndryl Holdings and ASGN go up and down completely randomly.
Pair Corralation between Kyndryl Holdings and ASGN
Allowing for the 90-day total investment horizon Kyndryl Holdings is expected to generate 1.18 times more return on investment than ASGN. However, Kyndryl Holdings is 1.18 times more volatile than ASGN Inc. It trades about -0.02 of its potential returns per unit of risk. ASGN Inc is currently generating about -0.04 per unit of risk. If you would invest 3,744 in Kyndryl Holdings on June 1, 2025 and sell it today you would lose (565.00) from holding Kyndryl Holdings or give up 15.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kyndryl Holdings vs. ASGN Inc
Performance |
| Timeline |
| Kyndryl Holdings |
| ASGN Inc |
Kyndryl Holdings and ASGN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kyndryl Holdings and ASGN
The main advantage of trading using opposite Kyndryl Holdings and ASGN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kyndryl Holdings position performs unexpectedly, ASGN 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 ASGN will offset losses from the drop in ASGN's long position.| Kyndryl Holdings vs. Organon Co | Kyndryl Holdings vs. Warner Bros Discovery | Kyndryl Holdings vs. Viatris | Kyndryl Holdings vs. GE HealthCare Technologies |
| ASGN vs. CLARIVATE PLC | ASGN vs. ExlService Holdings | ASGN vs. Genpact Limited | ASGN vs. Science Applications International |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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