Correlation Between Brixmor Property and Gaming Leisure
Can any of the company-specific risk be diversified away by investing in both Brixmor Property and Gaming Leisure 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 Gaming Leisure into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brixmor Property and Gaming Leisure Properties, you can compare the effects of market volatilities on Brixmor Property and Gaming Leisure 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 Gaming Leisure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brixmor Property and Gaming Leisure.
Diversification Opportunities for Brixmor Property and Gaming Leisure
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Brixmor and Gaming is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Brixmor Property and Gaming Leisure Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gaming Leisure Properties 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 Gaming Leisure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gaming Leisure Properties has no effect on the direction of Brixmor Property i.e., Brixmor Property and Gaming Leisure go up and down completely randomly.
Pair Corralation between Brixmor Property and Gaming Leisure
Considering the 90-day investment horizon Brixmor Property is expected to generate 1.16 times more return on investment than Gaming Leisure. However, Brixmor Property is 1.16 times more volatile than Gaming Leisure Properties. It trades about 0.12 of its potential returns per unit of risk. Gaming Leisure Properties is currently generating about 0.05 per unit of risk. If you would invest 2,097 in Brixmor Property on August 27, 2024 and sell it today you would earn a total of 886.00 from holding Brixmor Property or generate 42.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Brixmor Property vs. Gaming Leisure Properties
Performance |
| Timeline |
| Brixmor Property |
| Gaming Leisure Properties |
Brixmor Property and Gaming Leisure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brixmor Property and Gaming Leisure
The main advantage of trading using opposite Brixmor Property and Gaming Leisure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brixmor Property position performs unexpectedly, Gaming Leisure 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 Gaming Leisure will offset losses from the drop in Gaming Leisure's long position.| Brixmor Property vs. Site Centers Corp | Brixmor Property vs. Acadia Realty Trust | Brixmor Property vs. Netstreit Corp | Brixmor Property vs. Urban Edge Properties |
| Gaming Leisure vs. VICI Properties | Gaming Leisure vs. Brixmor Property | Gaming Leisure vs. Sabra Healthcare REIT | Gaming Leisure vs. CubeSmart |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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