Correlation Between Brookfield Office and Silver Bear
Can any of the company-specific risk be diversified away by investing in both Brookfield Office and Silver Bear 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 Brookfield Office and Silver Bear into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brookfield Office Properties and Silver Bear Resources, you can compare the effects of market volatilities on Brookfield Office and Silver Bear 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 Brookfield Office with a short position of Silver Bear. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brookfield Office and Silver Bear.
Diversification Opportunities for Brookfield Office and Silver Bear
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Brookfield and Silver is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Office Properties and Silver Bear Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silver Bear Resources and Brookfield Office 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 Brookfield Office Properties are associated (or correlated) with Silver Bear. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silver Bear Resources has no effect on the direction of Brookfield Office i.e., Brookfield Office and Silver Bear go up and down completely randomly.
Pair Corralation between Brookfield Office and Silver Bear
If you would invest 1,659 in Brookfield Office Properties on August 29, 2024 and sell it today you would earn a total of 20.00 from holding Brookfield Office Properties or generate 1.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Brookfield Office Properties vs. Silver Bear Resources
Performance |
| Timeline |
| Brookfield Office |
| Silver Bear Resources |
Brookfield Office and Silver Bear Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brookfield Office and Silver Bear
The main advantage of trading using opposite Brookfield Office and Silver Bear positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brookfield Office position performs unexpectedly, Silver Bear 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 Silver Bear will offset losses from the drop in Silver Bear's long position.| Brookfield Office vs. HOME DEPOT CDR | Brookfield Office vs. UnitedHealth Group CDR | Brookfield Office vs. CVW CleanTech | Brookfield Office vs. Leons Furniture Limited |
| Silver Bear vs. Dream Office Real | Silver Bear vs. Labrador Iron Ore | Silver Bear vs. Gfl Environmental Holdings | Silver Bear vs. Air Canada |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Transaction History View history of all your transactions and understand their impact on performance |