Correlation Between FEMALE HEALTH and Brixmor Property
Can any of the company-specific risk be diversified away by investing in both FEMALE HEALTH and Brixmor Property 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 FEMALE HEALTH and Brixmor Property into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FEMALE HEALTH and Brixmor Property Group, you can compare the effects of market volatilities on FEMALE HEALTH and Brixmor Property 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 FEMALE HEALTH with a short position of Brixmor Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of FEMALE HEALTH and Brixmor Property.
Diversification Opportunities for FEMALE HEALTH and Brixmor Property
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between FEMALE and Brixmor is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding FEMALE HEALTH and Brixmor Property Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Brixmor Property and FEMALE HEALTH 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 FEMALE HEALTH are associated (or correlated) with Brixmor Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Brixmor Property has no effect on the direction of FEMALE HEALTH i.e., FEMALE HEALTH and Brixmor Property go up and down completely randomly.
Pair Corralation between FEMALE HEALTH and Brixmor Property
Assuming the 90 days trading horizon FEMALE HEALTH is expected to under-perform the Brixmor Property. In addition to that, FEMALE HEALTH is 6.49 times more volatile than Brixmor Property Group. It trades about -0.03 of its total potential returns per unit of risk. Brixmor Property Group is currently generating about 0.25 per unit of volatility. If you would invest 2,700 in Brixmor Property Group on September 12, 2024 and sell it today you would earn a total of 100.00 from holding Brixmor Property Group or generate 3.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
FEMALE HEALTH vs. Brixmor Property Group
Performance |
| Timeline |
| FEMALE HEALTH |
| Brixmor Property |
FEMALE HEALTH and Brixmor Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FEMALE HEALTH and Brixmor Property
The main advantage of trading using opposite FEMALE HEALTH and Brixmor Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FEMALE HEALTH position performs unexpectedly, Brixmor Property 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 Brixmor Property will offset losses from the drop in Brixmor Property's long position.| FEMALE HEALTH vs. Apple Inc | FEMALE HEALTH vs. Apple Inc | FEMALE HEALTH vs. Apple Inc | FEMALE HEALTH vs. Apple Inc |
| Brixmor Property vs. Vicinity Centres | Brixmor Property vs. Superior Plus Corp | Brixmor Property vs. NMI Holdings | Brixmor Property vs. SIVERS SEMICONDUCTORS AB |
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 CEOs Directory module to screen CEOs from public companies around the world.
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