Correlation Between Cedar Realty and Ivy Advantus
Can any of the company-specific risk be diversified away by investing in both Cedar Realty and Ivy Advantus at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Cedar Realty and Ivy Advantus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cedar Realty Trust and Ivy Advantus Real, you can compare the effects of market volatilities on Cedar Realty and Ivy Advantus 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 Ivy Advantus. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cedar Realty and Ivy Advantus.
Diversification Opportunities for Cedar Realty and Ivy Advantus
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cedar and Ivy is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Cedar Realty Trust and Ivy Advantus Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ivy Advantus Real 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 Ivy Advantus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ivy Advantus Real has no effect on the direction of Cedar Realty i.e., Cedar Realty and Ivy Advantus go up and down completely randomly.
Pair Corralation between Cedar Realty and Ivy Advantus
Assuming the 90 days trading horizon Cedar Realty is expected to generate 1.01 times less return on investment than Ivy Advantus. But when comparing it to its historical volatility, Cedar Realty Trust is 1.48 times less risky than Ivy Advantus. It trades about 0.14 of its potential returns per unit of risk. Ivy Advantus Real is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,510 in Ivy Advantus Real on November 2, 2024 and sell it today you would earn a total of 33.00 from holding Ivy Advantus Real or generate 2.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Cedar Realty Trust vs. Ivy Advantus Real
Performance |
| Timeline |
| Cedar Realty Trust |
| Ivy Advantus Real |
Cedar Realty and Ivy Advantus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cedar Realty and Ivy Advantus
The main advantage of trading using opposite Cedar Realty and Ivy Advantus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cedar Realty position performs unexpectedly, Ivy Advantus 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 Ivy Advantus will offset losses from the drop in Ivy Advantus' long position.| Cedar Realty vs. Wheeler Real Estate | Cedar Realty vs. CBL Associates Properties | Cedar Realty vs. Saul Centers | Cedar Realty vs. Federal Realty Investment |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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