Correlation Between Cedar Realty and LOWES
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By analyzing existing cross correlation between Cedar Realty Trust and LOWES INC 3375, you can compare the effects of market volatilities on Cedar Realty and LOWES 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 LOWES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and LOWES.
Diversification Opportunities for Cedar Realty and LOWES
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cedar and LOWES is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and LOWES INC 3375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOWES INC 3375 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 LOWES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOWES INC 3375 has no effect on the direction of Cedar Realty i.e., Cedar Realty and LOWES go up and down completely randomly.
Pair Corralation between Cedar Realty and LOWES
Assuming the 90 days trading horizon Cedar Realty Trust is expected to under-perform the LOWES. In addition to that, Cedar Realty is 4.45 times more volatile than LOWES INC 3375. It trades about -0.1 of its total potential returns per unit of risk. LOWES INC 3375 is currently generating about 0.0 per unit of volatility. If you would invest 9,891 in LOWES INC 3375 on September 12, 2024 and sell it today you would earn a total of 2.00 from holding LOWES INC 3375 or generate 0.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cedar Realty Trust vs. LOWES INC 3375
Performance |
| Timeline |
| Cedar Realty Trust |
| LOWES INC 3375 |
Cedar Realty and LOWES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and LOWES
The main advantage of trading using opposite Cedar Realty and LOWES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, LOWES 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 LOWES will offset losses from the drop in LOWES's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
| LOWES vs. Cedar Realty Trust | LOWES vs. Global E Online | LOWES vs. Chester Mining | LOWES vs. Paiute Oil Mining |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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