Correlation Between Bluerock Homes and MASSIN
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By analyzing existing cross correlation between Bluerock Homes Trust and MASSIN 3067 01 APR 52, you can compare the effects of market volatilities on Bluerock Homes and MASSIN 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 MASSIN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bluerock Homes and MASSIN.
Diversification Opportunities for Bluerock Homes and MASSIN
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bluerock and MASSIN is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Bluerock Homes Trust and MASSIN 3067 01 APR 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MASSIN 3067 01 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 MASSIN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MASSIN 3067 01 has no effect on the direction of Bluerock Homes i.e., Bluerock Homes and MASSIN go up and down completely randomly.
Pair Corralation between Bluerock Homes and MASSIN
Considering the 90-day investment horizon Bluerock Homes Trust is expected to generate 0.9 times more return on investment than MASSIN. However, Bluerock Homes Trust is 1.11 times less risky than MASSIN. It trades about 0.03 of its potential returns per unit of risk. MASSIN 3067 01 APR 52 is currently generating about -0.07 per unit of risk. If you would invest 1,423 in Bluerock Homes Trust on September 4, 2024 and sell it today you would earn a total of 9.00 from holding Bluerock Homes Trust or generate 0.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 42.86% |
| Values | Daily Returns |
Bluerock Homes Trust vs. MASSIN 3067 01 APR 52
Performance |
| Timeline |
| Bluerock Homes Trust |
| MASSIN 3067 01 |
Bluerock Homes and MASSIN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bluerock Homes and MASSIN
The main advantage of trading using opposite Bluerock Homes and MASSIN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bluerock Homes position performs unexpectedly, MASSIN 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 MASSIN will offset losses from the drop in MASSIN's long position.| Bluerock Homes vs. Nexpoint Residential Trust | Bluerock Homes vs. Clipper Realty | Bluerock Homes vs. Centerspace | Bluerock Homes vs. Equity Lifestyle Properties |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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