Correlation Between Cedar Realty and 88579YBH3
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By analyzing existing cross correlation between Cedar Realty Trust and 3M CO, you can compare the effects of market volatilities on Cedar Realty and 88579YBH3 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 88579YBH3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and 88579YBH3.
Diversification Opportunities for Cedar Realty and 88579YBH3
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cedar and 88579YBH3 is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and 3M CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 88579YBH3 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 88579YBH3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 88579YBH3 has no effect on the direction of Cedar Realty i.e., Cedar Realty and 88579YBH3 go up and down completely randomly.
Pair Corralation between Cedar Realty and 88579YBH3
Assuming the 90 days trading horizon Cedar Realty Trust is expected to generate 6.76 times more return on investment than 88579YBH3. However, Cedar Realty is 6.76 times more volatile than 3M CO. It trades about 0.06 of its potential returns per unit of risk. 3M CO is currently generating about -0.01 per unit of risk. If you would invest 1,227 in Cedar Realty Trust on September 14, 2024 and sell it today you would earn a total of 446.00 from holding Cedar Realty Trust or generate 36.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Cedar Realty Trust vs. 3M CO
Performance |
| Timeline |
| Cedar Realty Trust |
| 88579YBH3 |
Cedar Realty and 88579YBH3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and 88579YBH3
The main advantage of trading using opposite Cedar Realty and 88579YBH3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, 88579YBH3 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 88579YBH3 will offset losses from the drop in 88579YBH3's long position.| Cedar Realty vs. Simon Property Group | Cedar Realty vs. Saul Centers | Cedar Realty vs. Rithm Property Trust | Cedar Realty vs. Urban Edge Properties |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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