Correlation Between Cedar Realty and SOUTHERN
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By analyzing existing cross correlation between Cedar Realty Trust and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Cedar Realty and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and SOUTHERN.
Diversification Opportunities for Cedar Realty and SOUTHERN
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cedar and SOUTHERN is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Cedar Realty i.e., Cedar Realty and SOUTHERN go up and down completely randomly.
Pair Corralation between Cedar Realty and SOUTHERN
Assuming the 90 days trading horizon Cedar Realty Trust is expected to generate 1.51 times more return on investment than SOUTHERN. However, Cedar Realty is 1.51 times more volatile than SOUTHERN CALIF EDISON. It trades about 0.07 of its potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about -0.06 per unit of risk. If you would invest 1,603 in Cedar Realty Trust on September 3, 2024 and sell it today you would earn a total of 35.00 from holding Cedar Realty Trust or generate 2.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Cedar Realty Trust vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Cedar Realty Trust |
| SOUTHERN CALIF EDISON |
Cedar Realty and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and SOUTHERN
The main advantage of trading using opposite Cedar Realty and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Cedar Realty vs. Saul Centers | Cedar Realty vs. Kimco Realty | Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. Macerich Company |
| SOUTHERN vs. Grocery Outlet Holding | SOUTHERN vs. SunOpta | SOUTHERN vs. Tyson Foods | SOUTHERN vs. Cedar Realty Trust |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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