Correlation Between Getty Realty and Distoken Acquisition
Can any of the company-specific risk be diversified away by investing in both Getty Realty and Distoken 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 Distoken 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 Distoken Acquisition, you can compare the effects of market volatilities on Getty Realty and Distoken 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 Distoken Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and Distoken Acquisition.
Diversification Opportunities for Getty Realty and Distoken Acquisition
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Getty and Distoken is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and Distoken Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Distoken Acquisition 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 Distoken Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Distoken Acquisition has no effect on the direction of Getty Realty i.e., Getty Realty and Distoken Acquisition go up and down completely randomly.
Pair Corralation between Getty Realty and Distoken Acquisition
Considering the 90-day investment horizon Getty Realty is expected to generate 0.89 times more return on investment than Distoken Acquisition. However, Getty Realty is 1.13 times less risky than Distoken Acquisition. It trades about 0.1 of its potential returns per unit of risk. Distoken Acquisition is currently generating about 0.02 per unit of risk. If you would invest 2,958 in Getty Realty on November 2, 2024 and sell it today you would earn a total of 79.00 from holding Getty Realty or generate 2.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Getty Realty vs. Distoken Acquisition
Performance |
| Timeline |
| Getty Realty |
| Distoken Acquisition |
Getty Realty and Distoken Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and Distoken Acquisition
The main advantage of trading using opposite Getty Realty and Distoken Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, Distoken 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 Distoken Acquisition will offset losses from the drop in Distoken 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 |
| Distoken Acquisition vs. Blue Owl Capital | Distoken Acquisition vs. TPG Inc | Distoken Acquisition vs. Patria Investments | Distoken Acquisition vs. Cion Investment Corp |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |