Correlation Between Armada Hflr and STANLN
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By analyzing existing cross correlation between Armada Hflr Pr and STANLN 7767 16 NOV 28, you can compare the effects of market volatilities on Armada Hflr and STANLN 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 Armada Hflr with a short position of STANLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Armada Hflr and STANLN.
Diversification Opportunities for Armada Hflr and STANLN
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Armada and STANLN is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Armada Hflr Pr and STANLN 7767 16 NOV 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANLN 7767 16 and Armada Hflr 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 Armada Hflr Pr are associated (or correlated) with STANLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANLN 7767 16 has no effect on the direction of Armada Hflr i.e., Armada Hflr and STANLN go up and down completely randomly.
Pair Corralation between Armada Hflr and STANLN
Considering the 90-day investment horizon Armada Hflr Pr is expected to generate 3.96 times more return on investment than STANLN. However, Armada Hflr is 3.96 times more volatile than STANLN 7767 16 NOV 28. It trades about 0.03 of its potential returns per unit of risk. STANLN 7767 16 NOV 28 is currently generating about -0.01 per unit of risk. If you would invest 1,003 in Armada Hflr Pr on September 14, 2024 and sell it today you would earn a total of 87.50 from holding Armada Hflr Pr or generate 8.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 53.53% |
| Values | Daily Returns |
Armada Hflr Pr vs. STANLN 7767 16 NOV 28
Performance |
| Timeline |
| Armada Hflr Pr |
| STANLN 7767 16 |
Armada Hflr and STANLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Armada Hflr and STANLN
The main advantage of trading using opposite Armada Hflr and STANLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Armada Hflr position performs unexpectedly, STANLN 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 STANLN will offset losses from the drop in STANLN's long position.| Armada Hflr vs. Modiv Inc | Armada Hflr vs. Precinct Properties New | Armada Hflr vs. Global Net Lease | Armada Hflr vs. NexPoint Diversified Real |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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