Correlation Between Cedar Realty and Banpu PCL
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and Banpu PCL 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 Cedar Realty and Banpu PCL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cedar Realty Trust and Banpu PCL ADR, you can compare the effects of market volatilities on Cedar Realty and Banpu PCL 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 Cedar Realty with a short position of Banpu PCL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and Banpu PCL.
Diversification Opportunities for Cedar Realty and Banpu PCL
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cedar and Banpu is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and Banpu PCL ADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banpu PCL ADR and Cedar Realty 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 Cedar Realty Trust are associated (or correlated) with Banpu PCL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banpu PCL ADR has no effect on the direction of Cedar Realty i.e., Cedar Realty and Banpu PCL go up and down completely randomly.
Pair Corralation between Cedar Realty and Banpu PCL
If you would invest 1,367 in Cedar Realty Trust on September 12, 2024 and sell it today you would earn a total of 162.00 from holding Cedar Realty Trust or generate 11.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 1.59% |
| Values | Daily Returns |
Cedar Realty Trust vs. Banpu PCL ADR
Performance |
| Timeline |
| Cedar Realty Trust |
| Banpu PCL ADR |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cedar Realty and Banpu PCL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and Banpu PCL
The main advantage of trading using opposite Cedar Realty and Banpu PCL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, Banpu PCL 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 Banpu PCL will offset losses from the drop in Banpu PCL's long position.| Cedar Realty vs. Simon Property Group | Cedar Realty vs. Saul Centers | Cedar Realty vs. Rithm Property Trust | Cedar Realty vs. Urban Edge Properties |
| Banpu PCL vs. Cedar Realty Trust | Banpu PCL vs. Arrow Financial | Banpu PCL vs. Siriuspoint | Banpu PCL vs. Glacier Bancorp |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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