Correlation Between Bluerock Homes and HYATT
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By analyzing existing cross correlation between Bluerock Homes Trust and HYATT HOTELS P, you can compare the effects of market volatilities on Bluerock Homes and HYATT 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 Bluerock Homes with a short position of HYATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bluerock Homes and HYATT.
Diversification Opportunities for Bluerock Homes and HYATT
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Bluerock and HYATT is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Bluerock Homes Trust and HYATT HOTELS P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HYATT HOTELS P and Bluerock Homes 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 Bluerock Homes Trust are associated (or correlated) with HYATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HYATT HOTELS P has no effect on the direction of Bluerock Homes i.e., Bluerock Homes and HYATT go up and down completely randomly.
Pair Corralation between Bluerock Homes and HYATT
Considering the 90-day investment horizon Bluerock Homes Trust is expected to generate 4.8 times more return on investment than HYATT. However, Bluerock Homes is 4.8 times more volatile than HYATT HOTELS P. It trades about 0.02 of its potential returns per unit of risk. HYATT HOTELS P is currently generating about -0.02 per unit of risk. If you would invest 1,405 in Bluerock Homes Trust on September 12, 2024 and sell it today you would earn a total of 25.00 from holding Bluerock Homes Trust or generate 1.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 92.19% |
| Values | Daily Returns |
Bluerock Homes Trust vs. HYATT HOTELS P
Performance |
| Timeline |
| Bluerock Homes Trust |
| HYATT HOTELS P |
Bluerock Homes and HYATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bluerock Homes and HYATT
The main advantage of trading using opposite Bluerock Homes and HYATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bluerock Homes position performs unexpectedly, HYATT 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 HYATT will offset losses from the drop in HYATT's long position.| Bluerock Homes vs. Nexpoint Residential Trust | Bluerock Homes vs. Clipper Realty | Bluerock Homes vs. Centerspace | Bluerock Homes vs. Equity Lifestyle Properties |
| HYATT vs. AEP TEX INC | HYATT vs. US BANK NATIONAL | HYATT vs. Applied Blockchain | HYATT vs. BigBearai Holdings |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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