Correlation Between Cedar Realty and Nokia
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By analyzing existing cross correlation between Cedar Realty Trust and Nokia 6625 percent, you can compare the effects of market volatilities on Cedar Realty and Nokia 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 Nokia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and Nokia.
Diversification Opportunities for Cedar Realty and Nokia
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cedar and Nokia is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and Nokia 6625 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nokia 6625 percent 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 Nokia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nokia 6625 percent has no effect on the direction of Cedar Realty i.e., Cedar Realty and Nokia go up and down completely randomly.
Pair Corralation between Cedar Realty and Nokia
Assuming the 90 days trading horizon Cedar Realty Trust is expected to generate 2.57 times more return on investment than Nokia. However, Cedar Realty is 2.57 times more volatile than Nokia 6625 percent. It trades about 0.1 of its potential returns per unit of risk. Nokia 6625 percent is currently generating about -0.14 per unit of risk. If you would invest 1,401 in Cedar Realty Trust on September 3, 2024 and sell it today you would earn a total of 237.00 from holding Cedar Realty Trust or generate 16.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.88% |
| Values | Daily Returns |
Cedar Realty Trust vs. Nokia 6625 percent
Performance |
| Timeline |
| Cedar Realty Trust |
| Nokia 6625 percent |
Cedar Realty and Nokia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and Nokia
The main advantage of trading using opposite Cedar Realty and Nokia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, Nokia 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 Nokia will offset losses from the drop in Nokia's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
| Nokia vs. Coupang LLC | Nokia vs. Sun Life Financial | Nokia vs. Cedar Realty Trust | Nokia vs. Meiwu Technology Co |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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