Correlation Between Boston Properties and Gentor Resources
Can any of the company-specific risk be diversified away by investing in both Boston Properties and Gentor Resources 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 Boston Properties and Gentor Resources into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Boston Properties and Gentor Resources, you can compare the effects of market volatilities on Boston Properties and Gentor Resources 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 Boston Properties with a short position of Gentor Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boston Properties and Gentor Resources.
Diversification Opportunities for Boston Properties and Gentor Resources
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Boston and Gentor is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Boston Properties and Gentor Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentor Resources and Boston Properties 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 Boston Properties are associated (or correlated) with Gentor Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentor Resources has no effect on the direction of Boston Properties i.e., Boston Properties and Gentor Resources go up and down completely randomly.
Pair Corralation between Boston Properties and Gentor Resources
If you would invest 3.00 in Gentor Resources on September 5, 2024 and sell it today you would earn a total of 0.00 from holding Gentor Resources or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Boston Properties vs. Gentor Resources
Performance |
| Timeline |
| Boston Properties |
| Gentor Resources |
Boston Properties and Gentor Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boston Properties and Gentor Resources
The main advantage of trading using opposite Boston Properties and Gentor Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boston Properties position performs unexpectedly, Gentor Resources 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 Gentor Resources will offset losses from the drop in Gentor Resources' long position.| Boston Properties vs. SL Green Realty | Boston Properties vs. Douglas Emmett | Boston Properties vs. Kilroy Realty Corp | Boston Properties vs. Alexandria Real Estate |
| Gentor Resources vs. Genfit | Gentor Resources vs. Boston Properties | Gentor Resources vs. JBG SMITH Properties | Gentor Resources vs. Mid Atlantic Home Health |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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