Correlation Between Curbline Properties and MDJM
Can any of the company-specific risk be diversified away by investing in both Curbline Properties and MDJM 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 Curbline Properties and MDJM into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Curbline Properties Corp and MDJM, you can compare the effects of market volatilities on Curbline Properties and MDJM 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 Curbline Properties with a short position of MDJM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Curbline Properties and MDJM.
Diversification Opportunities for Curbline Properties and MDJM
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Curbline and MDJM is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Curbline Properties Corp and MDJM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MDJM and Curbline Properties 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 Curbline Properties Corp are associated (or correlated) with MDJM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MDJM has no effect on the direction of Curbline Properties i.e., Curbline Properties and MDJM go up and down completely randomly.
Pair Corralation between Curbline Properties and MDJM
Given the investment horizon of 90 days Curbline Properties Corp is expected to generate 0.31 times more return on investment than MDJM. However, Curbline Properties Corp is 3.26 times less risky than MDJM. It trades about 0.1 of its potential returns per unit of risk. MDJM is currently generating about -0.06 per unit of risk. If you would invest 1,985 in Curbline Properties Corp on September 26, 2024 and sell it today you would earn a total of 388.00 from holding Curbline Properties Corp or generate 19.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 50.4% |
| Values | Daily Returns |
Curbline Properties Corp vs. MDJM
Performance |
| Timeline |
| Curbline Properties Corp |
| MDJM |
Curbline Properties and MDJM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Curbline Properties and MDJM
The main advantage of trading using opposite Curbline Properties and MDJM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Curbline Properties position performs unexpectedly, MDJM 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 MDJM will offset losses from the drop in MDJM's long position.| Curbline Properties vs. Viemed Healthcare | Curbline Properties vs. Neogen | Curbline Properties vs. KeyCorp | Curbline Properties vs. Sonida Senior Living |
| MDJM vs. Wetouch Technology Common | MDJM vs. New Concept Energy | MDJM vs. DigitalBridge Group | MDJM vs. DigitalBridge Group |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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