Correlation Between Cedar Realty and 26443TAA4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cedar Realty Trust and DUKE ENERGY IND, you can compare the effects of market volatilities on Cedar Realty and 26443TAA4 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 26443TAA4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and 26443TAA4.
Diversification Opportunities for Cedar Realty and 26443TAA4
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cedar and 26443TAA4 is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and DUKE ENERGY IND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DUKE ENERGY IND 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 26443TAA4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DUKE ENERGY IND has no effect on the direction of Cedar Realty i.e., Cedar Realty and 26443TAA4 go up and down completely randomly.
Pair Corralation between Cedar Realty and 26443TAA4
Assuming the 90 days trading horizon Cedar Realty Trust is expected to generate 1.42 times more return on investment than 26443TAA4. However, Cedar Realty is 1.42 times more volatile than DUKE ENERGY IND. It trades about 0.06 of its potential returns per unit of risk. DUKE ENERGY IND is currently generating about -0.17 per unit of risk. If you would invest 1,587 in Cedar Realty Trust on August 31, 2024 and sell it today you would earn a total of 33.00 from holding Cedar Realty Trust or generate 2.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 59.09% |
| Values | Daily Returns |
Cedar Realty Trust vs. DUKE ENERGY IND
Performance |
| Timeline |
| Cedar Realty Trust |
| DUKE ENERGY IND |
Cedar Realty and 26443TAA4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and 26443TAA4
The main advantage of trading using opposite Cedar Realty and 26443TAA4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, 26443TAA4 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 26443TAA4 will offset losses from the drop in 26443TAA4's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
| 26443TAA4 vs. Philip Morris International | 26443TAA4 vs. RLX Technology | 26443TAA4 vs. Constellation Brands Class | 26443TAA4 vs. Scandinavian Tobacco Group |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |