Correlation Between Cedar Realty and GetSwift Technologies
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and GetSwift Technologies 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 GetSwift Technologies 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 GetSwift Technologies Limited, you can compare the effects of market volatilities on Cedar Realty and GetSwift Technologies 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 GetSwift Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and GetSwift Technologies.
Diversification Opportunities for Cedar Realty and GetSwift Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cedar and GetSwift is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and GetSwift Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GetSwift Technologies 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 GetSwift Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GetSwift Technologies has no effect on the direction of Cedar Realty i.e., Cedar Realty and GetSwift Technologies go up and down completely randomly.
Pair Corralation between Cedar Realty and GetSwift Technologies
If you would invest 1,304 in Cedar Realty Trust on September 1, 2024 and sell it today you would earn a total of 334.00 from holding Cedar Realty Trust or generate 25.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.79% |
| Values | Daily Returns |
Cedar Realty Trust vs. GetSwift Technologies Limited
Performance |
| Timeline |
| Cedar Realty Trust |
| GetSwift Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cedar Realty and GetSwift Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and GetSwift Technologies
The main advantage of trading using opposite Cedar Realty and GetSwift Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, GetSwift Technologies 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 GetSwift Technologies will offset losses from the drop in GetSwift Technologies' long position.| Cedar Realty vs. Site Centers Corp | Cedar Realty vs. Urban Edge Properties | Cedar Realty vs. Retail Opportunity Investments | Cedar Realty vs. Brixmor Property |
| GetSwift Technologies vs. Skechers USA | GetSwift Technologies vs. RBC Bearings Incorporated | GetSwift Technologies vs. Virco Manufacturing | GetSwift Technologies vs. Franklin Wireless 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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