Correlation Between Kimball Electronics and Cue Biopharma
Can any of the company-specific risk be diversified away by investing in both Kimball Electronics and Cue Biopharma 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 Kimball Electronics and Cue Biopharma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kimball Electronics and Cue Biopharma, you can compare the effects of market volatilities on Kimball Electronics and Cue Biopharma 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 Kimball Electronics with a short position of Cue Biopharma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kimball Electronics and Cue Biopharma.
Diversification Opportunities for Kimball Electronics and Cue Biopharma
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kimball and Cue is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Kimball Electronics and Cue Biopharma in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cue Biopharma and Kimball Electronics 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 Kimball Electronics are associated (or correlated) with Cue Biopharma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cue Biopharma has no effect on the direction of Kimball Electronics i.e., Kimball Electronics and Cue Biopharma go up and down completely randomly.
Pair Corralation between Kimball Electronics and Cue Biopharma
Allowing for the 90-day total investment horizon Kimball Electronics is expected to generate 0.56 times more return on investment than Cue Biopharma. However, Kimball Electronics is 1.79 times less risky than Cue Biopharma. It trades about 0.0 of its potential returns per unit of risk. Cue Biopharma is currently generating about -0.1 per unit of risk. If you would invest 2,835 in Kimball Electronics on August 27, 2025 and sell it today you would lose (59.00) from holding Kimball Electronics or give up 2.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kimball Electronics vs. Cue Biopharma
Performance |
| Timeline |
| Kimball Electronics |
| Cue Biopharma |
Kimball Electronics and Cue Biopharma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kimball Electronics and Cue Biopharma
The main advantage of trading using opposite Kimball Electronics and Cue Biopharma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kimball Electronics position performs unexpectedly, Cue Biopharma 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 Cue Biopharma will offset losses from the drop in Cue Biopharma's long position.| Kimball Electronics vs. Methode Electronics | Kimball Electronics vs. LPKF Laser Electronics | Kimball Electronics vs. Cleantech Power Corp | Kimball Electronics vs. Electronic Arts |
| Cue Biopharma vs. Kimball Electronics | Cue Biopharma vs. Strategy International Insurance | Cue Biopharma vs. Fidelis Insurance Holdings | Cue Biopharma vs. China Life Insurance |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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