Correlation Between Cedar Realty and Triumph
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and Triumph 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 Triumph 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 Triumph Group, you can compare the effects of market volatilities on Cedar Realty and Triumph 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 Triumph. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and Triumph.
Diversification Opportunities for Cedar Realty and Triumph
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cedar and Triumph is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and Triumph Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Triumph Group 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 Triumph. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Triumph Group has no effect on the direction of Cedar Realty i.e., Cedar Realty and Triumph go up and down completely randomly.
Pair Corralation between Cedar Realty and Triumph
If you would invest 1,288 in Cedar Realty Trust on September 12, 2024 and sell it today you would earn a total of 241.00 from holding Cedar Realty Trust or generate 18.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.28% |
| Values | Daily Returns |
Cedar Realty Trust vs. Triumph Group
Performance |
| Timeline |
| Cedar Realty Trust |
| Triumph Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cedar Realty and Triumph Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and Triumph
The main advantage of trading using opposite Cedar Realty and Triumph positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, Triumph 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 Triumph will offset losses from the drop in Triumph's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
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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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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