Correlation Between Brixmor Property and Creative Media
Can any of the company-specific risk be diversified away by investing in both Brixmor Property and Creative Media 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 Brixmor Property and Creative Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brixmor Property and Creative Media Community, you can compare the effects of market volatilities on Brixmor Property and Creative Media 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 Brixmor Property with a short position of Creative Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brixmor Property and Creative Media.
Diversification Opportunities for Brixmor Property and Creative Media
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Brixmor and Creative is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Brixmor Property and Creative Media Community in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Creative Media Community and Brixmor Property 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 Brixmor Property are associated (or correlated) with Creative Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Creative Media Community has no effect on the direction of Brixmor Property i.e., Brixmor Property and Creative Media go up and down completely randomly.
Pair Corralation between Brixmor Property and Creative Media
Considering the 90-day investment horizon Brixmor Property is expected to generate 0.31 times more return on investment than Creative Media. However, Brixmor Property is 3.24 times less risky than Creative Media. It trades about 0.06 of its potential returns per unit of risk. Creative Media Community is currently generating about -0.1 per unit of risk. If you would invest 2,052 in Brixmor Property on August 30, 2024 and sell it today you would earn a total of 985.00 from holding Brixmor Property or generate 48.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Brixmor Property vs. Creative Media Community
Performance |
| Timeline |
| Brixmor Property |
| Creative Media Community |
Brixmor Property and Creative Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brixmor Property and Creative Media
The main advantage of trading using opposite Brixmor Property and Creative Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brixmor Property position performs unexpectedly, Creative Media 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 Creative Media will offset losses from the drop in Creative Media's long position.| Brixmor Property vs. CBL Associates Properties | Brixmor Property vs. Cedar Realty Trust | Brixmor Property vs. Simon Property Group | Brixmor Property vs. Realty Income |
| Creative Media vs. Office Properties Income | Creative Media vs. SL Green Realty | Creative Media vs. Highwoods Properties | Creative Media vs. Equity Commonwealth |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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