Correlation Between REXFORD INDREALTY and CubeSmart
Can any of the company-specific risk be diversified away by investing in both REXFORD INDREALTY and CubeSmart 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 REXFORD INDREALTY and CubeSmart into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between REXFORD INDREALTY DL 01 and CubeSmart, you can compare the effects of market volatilities on REXFORD INDREALTY and CubeSmart 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 REXFORD INDREALTY with a short position of CubeSmart. Check out your portfolio center. Please also check ongoing floating volatility patterns of REXFORD INDREALTY and CubeSmart.
Diversification Opportunities for REXFORD INDREALTY and CubeSmart
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between REXFORD and CubeSmart is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding REXFORD INDREALTY DL 01 and CubeSmart in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CubeSmart and REXFORD INDREALTY 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 REXFORD INDREALTY DL 01 are associated (or correlated) with CubeSmart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CubeSmart has no effect on the direction of REXFORD INDREALTY i.e., REXFORD INDREALTY and CubeSmart go up and down completely randomly.
Pair Corralation between REXFORD INDREALTY and CubeSmart
If you would invest 4,362 in CubeSmart on September 1, 2024 and sell it today you would earn a total of 293.00 from holding CubeSmart or generate 6.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
REXFORD INDREALTY DL 01 vs. CubeSmart
Performance |
| Timeline |
| REXFORD INDREALTY |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| CubeSmart |
REXFORD INDREALTY and CubeSmart Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with REXFORD INDREALTY and CubeSmart
The main advantage of trading using opposite REXFORD INDREALTY and CubeSmart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if REXFORD INDREALTY position performs unexpectedly, CubeSmart 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 CubeSmart will offset losses from the drop in CubeSmart's long position.| REXFORD INDREALTY vs. QURATE RETAIL INC | REXFORD INDREALTY vs. SPARTAN STORES | REXFORD INDREALTY vs. ATOSS SOFTWARE | REXFORD INDREALTY vs. Check Point Software |
| CubeSmart vs. Coor Service Management | CubeSmart vs. Consolidated Communications Holdings | CubeSmart vs. Cogent Communications Holdings | CubeSmart vs. SK TELECOM TDADR |
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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