Correlation Between Getty Realty and AIB Acquisition
Can any of the company-specific risk be diversified away by investing in both Getty Realty and AIB Acquisition 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 Getty Realty and AIB Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Getty Realty and AIB Acquisition Corp, you can compare the effects of market volatilities on Getty Realty and AIB Acquisition 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 Getty Realty with a short position of AIB Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and AIB Acquisition.
Diversification Opportunities for Getty Realty and AIB Acquisition
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Getty and AIB is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and AIB Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIB Acquisition Corp and Getty 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 Getty Realty are associated (or correlated) with AIB Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIB Acquisition Corp has no effect on the direction of Getty Realty i.e., Getty Realty and AIB Acquisition go up and down completely randomly.
Pair Corralation between Getty Realty and AIB Acquisition
If you would invest 3,252 in Getty Realty on August 29, 2024 and sell it today you would earn a total of 3.00 from holding Getty Realty or generate 0.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
Getty Realty vs. AIB Acquisition Corp
Performance |
| Timeline |
| Getty Realty |
| AIB Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Getty Realty and AIB Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and AIB Acquisition
The main advantage of trading using opposite Getty Realty and AIB Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, AIB Acquisition 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 AIB Acquisition will offset losses from the drop in AIB Acquisition's long position.| Getty Realty vs. Regency Centers | Getty Realty vs. Site Centers Corp | Getty Realty vs. Brixmor Property | Getty Realty vs. Tanger Factory Outlet |
| AIB Acquisition vs. Hooker Furniture | AIB Acquisition vs. Smith Douglas Homes | AIB Acquisition vs. Getty Realty | AIB Acquisition vs. JBG SMITH Properties |
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 Stocks Directory module to find actively traded stocks across global markets.
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