Correlation Between KULR Technology and Wrap Technologies
Can any of the company-specific risk be diversified away by investing in both KULR Technology and Wrap Technologies 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 KULR Technology and Wrap Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KULR Technology Group and Wrap Technologies, you can compare the effects of market volatilities on KULR Technology and Wrap Technologies 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 KULR Technology with a short position of Wrap Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of KULR Technology and Wrap Technologies.
Diversification Opportunities for KULR Technology and Wrap Technologies
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between KULR and Wrap is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding KULR Technology Group and Wrap Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wrap Technologies and KULR Technology 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 KULR Technology Group are associated (or correlated) with Wrap Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wrap Technologies has no effect on the direction of KULR Technology i.e., KULR Technology and Wrap Technologies go up and down completely randomly.
Pair Corralation between KULR Technology and Wrap Technologies
Given the investment horizon of 90 days KULR Technology Group is expected to under-perform the Wrap Technologies. But the stock apears to be less risky and, when comparing its historical volatility, KULR Technology Group is 1.33 times less risky than Wrap Technologies. The stock trades about -0.17 of its potential returns per unit of risk. The Wrap Technologies is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 132.00 in Wrap Technologies on August 27, 2025 and sell it today you would earn a total of 78.00 from holding Wrap Technologies or generate 59.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KULR Technology Group vs. Wrap Technologies
Performance |
| Timeline |
| KULR Technology Group |
| Wrap Technologies |
KULR Technology and Wrap Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KULR Technology and Wrap Technologies
The main advantage of trading using opposite KULR Technology and Wrap Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KULR Technology position performs unexpectedly, Wrap Technologies 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 Wrap Technologies will offset losses from the drop in Wrap Technologies' long position.| KULR Technology vs. Crimson Wine | KULR Technology vs. Space Communication | KULR Technology vs. Treasury Wine Estates | KULR Technology vs. ISPAF |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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