Correlation Between Progress Software and FS KKR
Can any of the company-specific risk be diversified away by investing in both Progress Software and FS KKR 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 Progress Software and FS KKR into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Progress Software and FS KKR Capital, you can compare the effects of market volatilities on Progress Software and FS KKR 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 Progress Software with a short position of FS KKR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Progress Software and FS KKR.
Diversification Opportunities for Progress Software and FS KKR
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Progress and FSK is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Progress Software and FS KKR Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FS KKR Capital and Progress Software 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 Progress Software are associated (or correlated) with FS KKR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FS KKR Capital has no effect on the direction of Progress Software i.e., Progress Software and FS KKR go up and down completely randomly.
Pair Corralation between Progress Software and FS KKR
Given the investment horizon of 90 days Progress Software is expected to under-perform the FS KKR. In addition to that, Progress Software is 1.56 times more volatile than FS KKR Capital. It trades about -0.07 of its total potential returns per unit of risk. FS KKR Capital is currently generating about -0.1 per unit of volatility. If you would invest 1,748 in FS KKR Capital on August 29, 2025 and sell it today you would lose (152.00) from holding FS KKR Capital or give up 8.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Progress Software vs. FS KKR Capital
Performance |
| Timeline |
| Progress Software |
| FS KKR Capital |
Progress Software and FS KKR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Progress Software and FS KKR
The main advantage of trading using opposite Progress Software and FS KKR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Progress Software position performs unexpectedly, FS KKR 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 FS KKR will offset losses from the drop in FS KKR's long position.| Progress Software vs. Chatham Lodging Trust | Progress Software vs. Sligro Food Group | Progress Software vs. Nates Food Co | Progress Software vs. Ausnutria Dairy |
| FS KKR vs. BCP Investment Corp | FS KKR vs. Trio Tech International | FS KKR vs. Minerals Technologies | FS KKR vs. Lithium Tech Cp |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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