Correlation Between Cedar Realty and Pta Holdings
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and Pta Holdings 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 Pta Holdings 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 Pta Holdings In, you can compare the effects of market volatilities on Cedar Realty and Pta Holdings 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 Pta Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and Pta Holdings.
Diversification Opportunities for Cedar Realty and Pta Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cedar and Pta is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and Pta Holdings In in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pta Holdings In 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 Pta Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pta Holdings In has no effect on the direction of Cedar Realty i.e., Cedar Realty and Pta Holdings go up and down completely randomly.
Pair Corralation between Cedar Realty and Pta Holdings
Assuming the 90 days trading horizon Cedar Realty Trust is expected to generate 0.56 times more return on investment than Pta Holdings. However, Cedar Realty Trust is 1.79 times less risky than Pta Holdings. It trades about 0.05 of its potential returns per unit of risk. Pta Holdings In is currently generating about -0.05 per unit of risk. If you would invest 1,079 in Cedar Realty Trust on September 14, 2024 and sell it today you would earn a total of 594.00 from holding Cedar Realty Trust or generate 55.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 78.14% |
| Values | Daily Returns |
Cedar Realty Trust vs. Pta Holdings In
Performance |
| Timeline |
| Cedar Realty Trust |
| Pta Holdings In |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cedar Realty and Pta Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and Pta Holdings
The main advantage of trading using opposite Cedar Realty and Pta Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, Pta Holdings 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 Pta Holdings will offset losses from the drop in Pta Holdings' 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 |
| Pta Holdings vs. CVW CleanTech | Pta Holdings vs. Cedar Realty Trust | Pta Holdings vs. Kite Realty Group | Pta Holdings vs. Ultra Clean Holdings |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |