Correlation Between AMREP and PUBLIC
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By analyzing existing cross correlation between AMREP and PUBLIC SVC O, you can compare the effects of market volatilities on AMREP and PUBLIC 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 AMREP with a short position of PUBLIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMREP and PUBLIC.
Diversification Opportunities for AMREP and PUBLIC
Very good diversification
The 3 months correlation between AMREP and PUBLIC is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding AMREP and PUBLIC SVC O in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PUBLIC SVC O and AMREP 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 AMREP are associated (or correlated) with PUBLIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PUBLIC SVC O has no effect on the direction of AMREP i.e., AMREP and PUBLIC go up and down completely randomly.
Pair Corralation between AMREP and PUBLIC
Considering the 90-day investment horizon AMREP is expected to generate 4.59 times more return on investment than PUBLIC. However, AMREP is 4.59 times more volatile than PUBLIC SVC O. It trades about 0.19 of its potential returns per unit of risk. PUBLIC SVC O is currently generating about 0.04 per unit of risk. If you would invest 3,041 in AMREP on September 1, 2024 and sell it today you would earn a total of 563.00 from holding AMREP or generate 18.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 85.71% |
| Values | Daily Returns |
AMREP vs. PUBLIC SVC O
Performance |
| Timeline |
| AMREP |
| PUBLIC SVC O |
AMREP and PUBLIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMREP and PUBLIC
The main advantage of trading using opposite AMREP and PUBLIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMREP position performs unexpectedly, PUBLIC 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 PUBLIC will offset losses from the drop in PUBLIC's long position.| AMREP vs. Landsea Homes Corp | AMREP vs. Forestar Group | AMREP vs. Five Point Holdings | AMREP vs. American Realty Investors |
| PUBLIC vs. Mannatech Incorporated | PUBLIC vs. AMREP | PUBLIC vs. 17 Education Technology | PUBLIC vs. World Houseware Limited |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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