Correlation Between Bridgemarq Real and Grand City
Can any of the company-specific risk be diversified away by investing in both Bridgemarq Real and Grand City 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 Grand City 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 Grand City Properties, you can compare the effects of market volatilities on Bridgemarq Real and Grand City 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 Grand City. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bridgemarq Real and Grand City.
Diversification Opportunities for Bridgemarq Real and Grand City
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bridgemarq and Grand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bridgemarq Real Estate and Grand City Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grand City Properties 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 Grand City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grand City Properties has no effect on the direction of Bridgemarq Real i.e., Bridgemarq Real and Grand City go up and down completely randomly.
Pair Corralation between Bridgemarq Real and Grand City
If you would invest 1,056 in Bridgemarq Real Estate on September 19, 2024 and sell it today you would earn a total of 2.00 from holding Bridgemarq Real Estate or generate 0.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bridgemarq Real Estate vs. Grand City Properties
Performance |
| Timeline |
| Bridgemarq Real Estate |
| Grand City Properties |
Bridgemarq Real and Grand City Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bridgemarq Real and Grand City
The main advantage of trading using opposite Bridgemarq Real and Grand City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bridgemarq Real position performs unexpectedly, Grand City 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 Grand City will offset losses from the drop in Grand City's long position.| Bridgemarq Real vs. Ashford Hospitality Trust | Bridgemarq Real vs. Ashford Hospitality Trust | Bridgemarq Real vs. Braemar Hotels Resorts | Bridgemarq Real vs. Braemar Hotels Resorts |
| Grand City vs. Asia Pptys | Grand City vs. Adler Group SA | Grand City vs. Ambase Corp | Grand City vs. Bridgemarq Real Estate |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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