Correlation Between Brixmor Property and Pennsylvania Real
Can any of the company-specific risk be diversified away by investing in both Brixmor Property and Pennsylvania Real 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 Pennsylvania Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brixmor Property and Pennsylvania Real Estate, you can compare the effects of market volatilities on Brixmor Property and Pennsylvania Real 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 Pennsylvania Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brixmor Property and Pennsylvania Real.
Diversification Opportunities for Brixmor Property and Pennsylvania Real
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Brixmor and Pennsylvania is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Brixmor Property and Pennsylvania Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pennsylvania Real Estate 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 Pennsylvania Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pennsylvania Real Estate has no effect on the direction of Brixmor Property i.e., Brixmor Property and Pennsylvania Real go up and down completely randomly.
Pair Corralation between Brixmor Property and Pennsylvania Real
If you would invest 125.00 in Pennsylvania Real Estate on October 26, 2024 and sell it today you would earn a total of 0.00 from holding Pennsylvania Real Estate or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 5.56% |
| Values | Daily Returns |
Brixmor Property vs. Pennsylvania Real Estate
Performance |
| Timeline |
| Brixmor Property |
| Pennsylvania Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Brixmor Property and Pennsylvania Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brixmor Property and Pennsylvania Real
The main advantage of trading using opposite Brixmor Property and Pennsylvania Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brixmor Property position performs unexpectedly, Pennsylvania Real 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 Pennsylvania Real will offset losses from the drop in Pennsylvania Real's long position.| Brixmor Property vs. Site Centers Corp | Brixmor Property vs. Rithm Property Trust | Brixmor Property vs. Acadia Realty Trust | Brixmor Property vs. Netstreit 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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