Correlation Between Cedar Realty and China Tontine
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and China Tontine 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 China Tontine 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 China Tontine Wines, you can compare the effects of market volatilities on Cedar Realty and China Tontine 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 China Tontine. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and China Tontine.
Diversification Opportunities for Cedar Realty and China Tontine
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cedar and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and China Tontine Wines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Tontine Wines 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 China Tontine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Tontine Wines has no effect on the direction of Cedar Realty i.e., Cedar Realty and China Tontine go up and down completely randomly.
Pair Corralation between Cedar Realty and China Tontine
If you would invest 1,582 in Cedar Realty Trust on November 9, 2024 and sell it today you would earn a total of 138.00 from holding Cedar Realty Trust or generate 8.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Cedar Realty Trust vs. China Tontine Wines
Performance |
| Timeline |
| Cedar Realty Trust |
| China Tontine Wines |
Cedar Realty and China Tontine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and China Tontine
The main advantage of trading using opposite Cedar Realty and China Tontine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, China Tontine 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 China Tontine will offset losses from the drop in China Tontine's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
| China Tontine vs. Naked Wines plc | China Tontine vs. Naked Wines plc | China Tontine vs. Crimson Wine | China Tontine vs. Brown Forman |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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