Correlation Between Comstock Holding and SIMON
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By analyzing existing cross correlation between Comstock Holding Companies and SIMON PPTY GROUP, you can compare the effects of market volatilities on Comstock Holding and SIMON 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 Comstock Holding with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Comstock Holding and SIMON.
Diversification Opportunities for Comstock Holding and SIMON
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Comstock and SIMON is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Comstock Holding Companies and SIMON PPTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PPTY GROUP and Comstock Holding 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 Comstock Holding Companies are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PPTY GROUP has no effect on the direction of Comstock Holding i.e., Comstock Holding and SIMON go up and down completely randomly.
Pair Corralation between Comstock Holding and SIMON
Given the investment horizon of 90 days Comstock Holding Companies is expected to under-perform the SIMON. In addition to that, Comstock Holding is 2.6 times more volatile than SIMON PPTY GROUP. It trades about -0.34 of its total potential returns per unit of risk. SIMON PPTY GROUP is currently generating about -0.16 per unit of volatility. If you would invest 8,369 in SIMON PPTY GROUP on September 3, 2024 and sell it today you would lose (378.00) from holding SIMON PPTY GROUP or give up 4.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 80.0% |
| Values | Daily Returns |
Comstock Holding Companies vs. SIMON PPTY GROUP
Performance |
| Timeline |
| Comstock Holding Com |
| SIMON PPTY GROUP |
Comstock Holding and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Comstock Holding and SIMON
The main advantage of trading using opposite Comstock Holding and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Comstock Holding position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| Comstock Holding vs. St Joe Company | Comstock Holding vs. Stratus Properties | Comstock Holding vs. Mitsui Fudosan Co | Comstock Holding vs. New World Development |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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