Correlation Between Acadia Realty and Urstadt Biddle
Can any of the company-specific risk be diversified away by investing in both Acadia Realty and Urstadt Biddle 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 Acadia Realty and Urstadt Biddle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Acadia Realty Trust and Urstadt Biddle Properties, you can compare the effects of market volatilities on Acadia Realty and Urstadt Biddle 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 Acadia Realty with a short position of Urstadt Biddle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acadia Realty and Urstadt Biddle.
Diversification Opportunities for Acadia Realty and Urstadt Biddle
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Acadia and Urstadt is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Acadia Realty Trust and Urstadt Biddle Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Urstadt Biddle Properties and Acadia Realty 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 Acadia Realty Trust are associated (or correlated) with Urstadt Biddle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Urstadt Biddle Properties has no effect on the direction of Acadia Realty i.e., Acadia Realty and Urstadt Biddle go up and down completely randomly.
Pair Corralation between Acadia Realty and Urstadt Biddle
If you would invest 2,460 in Acadia Realty Trust on August 27, 2024 and sell it today you would earn a total of 62.00 from holding Acadia Realty Trust or generate 2.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 4.76% |
| Values | Daily Returns |
Acadia Realty Trust vs. Urstadt Biddle Properties
Performance |
| Timeline |
| Acadia Realty Trust |
| Urstadt Biddle Properties |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Acadia Realty and Urstadt Biddle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acadia Realty and Urstadt Biddle
The main advantage of trading using opposite Acadia Realty and Urstadt Biddle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acadia Realty position performs unexpectedly, Urstadt Biddle 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 Urstadt Biddle will offset losses from the drop in Urstadt Biddle's long position.| Acadia Realty vs. Urban Edge Properties | Acadia Realty vs. Kite Realty Group | Acadia Realty vs. Site Centers Corp | Acadia Realty vs. Retail Opportunity Investments |
| Urstadt Biddle vs. Kimco Realty | Urstadt Biddle vs. Saul Centers | Urstadt Biddle vs. Brixmor Property | Urstadt Biddle vs. Regency Centers |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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