Correlation Between Brixmor Property and FEMALE HEALTH
Can any of the company-specific risk be diversified away by investing in both Brixmor Property and FEMALE HEALTH 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 FEMALE HEALTH into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brixmor Property Group and FEMALE HEALTH, you can compare the effects of market volatilities on Brixmor Property and FEMALE HEALTH 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 FEMALE HEALTH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brixmor Property and FEMALE HEALTH.
Diversification Opportunities for Brixmor Property and FEMALE HEALTH
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Brixmor and FEMALE is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Brixmor Property Group and FEMALE HEALTH in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FEMALE HEALTH 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 Group are associated (or correlated) with FEMALE HEALTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FEMALE HEALTH has no effect on the direction of Brixmor Property i.e., Brixmor Property and FEMALE HEALTH go up and down completely randomly.
Pair Corralation between Brixmor Property and FEMALE HEALTH
Assuming the 90 days horizon Brixmor Property Group is expected to generate 0.2 times more return on investment than FEMALE HEALTH. However, Brixmor Property Group is 5.01 times less risky than FEMALE HEALTH. It trades about 0.12 of its potential returns per unit of risk. FEMALE HEALTH is currently generating about 0.0 per unit of risk. If you would invest 1,997 in Brixmor Property Group on September 4, 2024 and sell it today you would earn a total of 823.00 from holding Brixmor Property Group or generate 41.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Brixmor Property Group vs. FEMALE HEALTH
Performance |
| Timeline |
| Brixmor Property |
| FEMALE HEALTH |
Brixmor Property and FEMALE HEALTH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brixmor Property and FEMALE HEALTH
The main advantage of trading using opposite Brixmor Property and FEMALE HEALTH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brixmor Property position performs unexpectedly, FEMALE HEALTH 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 FEMALE HEALTH will offset losses from the drop in FEMALE HEALTH's long position.| Brixmor Property vs. FEMALE HEALTH | Brixmor Property vs. CEOTRONICS | Brixmor Property vs. Lery Seafood Group | Brixmor Property vs. Waste Management |
| FEMALE HEALTH vs. TOTAL GABON | FEMALE HEALTH vs. Walgreens Boots Alliance | FEMALE HEALTH vs. Peak Resources Limited |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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