Correlation Between Barings BDC and WEINGARTEN
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By analyzing existing cross correlation between Barings BDC and WEINGARTEN RLTY INVS, you can compare the effects of market volatilities on Barings BDC and WEINGARTEN 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 Barings BDC with a short position of WEINGARTEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings BDC and WEINGARTEN.
Diversification Opportunities for Barings BDC and WEINGARTEN
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Barings and WEINGARTEN is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Barings BDC and WEINGARTEN RLTY INVS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WEINGARTEN RLTY INVS and Barings BDC 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 Barings BDC are associated (or correlated) with WEINGARTEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WEINGARTEN RLTY INVS has no effect on the direction of Barings BDC i.e., Barings BDC and WEINGARTEN go up and down completely randomly.
Pair Corralation between Barings BDC and WEINGARTEN
Given the investment horizon of 90 days Barings BDC is expected to generate 1.2 times more return on investment than WEINGARTEN. However, Barings BDC is 1.2 times more volatile than WEINGARTEN RLTY INVS. It trades about 0.25 of its potential returns per unit of risk. WEINGARTEN RLTY INVS is currently generating about -0.26 per unit of risk. If you would invest 970.00 in Barings BDC on November 4, 2024 and sell it today you would earn a total of 42.00 from holding Barings BDC or generate 4.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Barings BDC vs. WEINGARTEN RLTY INVS
Performance |
| Timeline |
| Barings BDC |
| WEINGARTEN RLTY INVS |
Barings BDC and WEINGARTEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barings BDC and WEINGARTEN
The main advantage of trading using opposite Barings BDC and WEINGARTEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings BDC position performs unexpectedly, WEINGARTEN 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 WEINGARTEN will offset losses from the drop in WEINGARTEN's long position.| Barings BDC vs. Runway Growth Finance | Barings BDC vs. OneMain Holdings | Barings BDC vs. Navient Corp | Barings BDC vs. Oaktree Specialty Lending |
| WEINGARTEN vs. AEP TEX INC | WEINGARTEN vs. US BANK NATIONAL | WEINGARTEN vs. Bayerische Motoren Werke | WEINGARTEN vs. Check Point Software |
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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