Correlation Between Bridgemarq Real and Ascendas India
Can any of the company-specific risk be diversified away by investing in both Bridgemarq Real and Ascendas India 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 Bridgemarq Real and Ascendas India into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bridgemarq Real Estate and Ascendas India Trust, you can compare the effects of market volatilities on Bridgemarq Real and Ascendas India 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 Bridgemarq Real with a short position of Ascendas India. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bridgemarq Real and Ascendas India.
Diversification Opportunities for Bridgemarq Real and Ascendas India
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bridgemarq and Ascendas is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Bridgemarq Real Estate and Ascendas India Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ascendas India Trust and Bridgemarq Real 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 Bridgemarq Real Estate are associated (or correlated) with Ascendas India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ascendas India Trust has no effect on the direction of Bridgemarq Real i.e., Bridgemarq Real and Ascendas India go up and down completely randomly.
Pair Corralation between Bridgemarq Real and Ascendas India
Assuming the 90 days horizon Bridgemarq Real Estate is expected to under-perform the Ascendas India. But the pink sheet apears to be less risky and, when comparing its historical volatility, Bridgemarq Real Estate is 3.01 times less risky than Ascendas India. The pink sheet trades about -0.27 of its potential returns per unit of risk. The Ascendas India Trust is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 77.00 in Ascendas India Trust on November 1, 2024 and sell it today you would lose (2.00) from holding Ascendas India Trust or give up 2.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bridgemarq Real Estate vs. Ascendas India Trust
Performance |
| Timeline |
| Bridgemarq Real Estate |
| Ascendas India Trust |
Bridgemarq Real and Ascendas India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bridgemarq Real and Ascendas India
The main advantage of trading using opposite Bridgemarq Real and Ascendas India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bridgemarq Real position performs unexpectedly, Ascendas India 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 Ascendas India will offset losses from the drop in Ascendas India's long position.| Bridgemarq Real vs. Kennedy Wilson Holdings | Bridgemarq Real vs. CoStar Group | Bridgemarq Real vs. Frp Holdings Ord | Bridgemarq Real vs. IRSA Inversiones Y |
| Ascendas India vs. Asia Pptys | Ascendas India vs. Adler Group SA | Ascendas India vs. Aztec Land Comb | Ascendas India vs. Ambase Corp |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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