Correlation Between Ascendas India and Bridgemarq Real
Can any of the company-specific risk be diversified away by investing in both Ascendas India and Bridgemarq Real 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 Ascendas India and Bridgemarq Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ascendas India Trust and Bridgemarq Real Estate, you can compare the effects of market volatilities on Ascendas India and Bridgemarq Real 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 Ascendas India with a short position of Bridgemarq Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ascendas India and Bridgemarq Real.
Diversification Opportunities for Ascendas India and Bridgemarq Real
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ascendas and Bridgemarq is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Ascendas India Trust and Bridgemarq Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bridgemarq Real Estate and Ascendas India 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 Ascendas India Trust are associated (or correlated) with Bridgemarq Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgemarq Real Estate has no effect on the direction of Ascendas India i.e., Ascendas India and Bridgemarq Real go up and down completely randomly.
Pair Corralation between Ascendas India and Bridgemarq Real
Assuming the 90 days horizon Ascendas India Trust is expected to generate 1.35 times more return on investment than Bridgemarq Real. However, Ascendas India is 1.35 times more volatile than Bridgemarq Real Estate. It trades about 0.04 of its potential returns per unit of risk. Bridgemarq Real Estate is currently generating about 0.0 per unit of risk. If you would invest 78.00 in Ascendas India Trust on September 4, 2024 and sell it today you would earn a total of 1.00 from holding Ascendas India Trust or generate 1.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ascendas India Trust vs. Bridgemarq Real Estate
Performance |
| Timeline |
| Ascendas India Trust |
| Bridgemarq Real Estate |
Ascendas India and Bridgemarq Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ascendas India and Bridgemarq Real
The main advantage of trading using opposite Ascendas India and Bridgemarq Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ascendas India position performs unexpectedly, Bridgemarq Real 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 Bridgemarq Real will offset losses from the drop in Bridgemarq Real's long position.| Ascendas India vs. Asia Pptys | Ascendas India vs. Adler Group SA | Ascendas India vs. Aztec Land Comb | Ascendas India vs. Ambase Corp |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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