Correlation Between Getty Realty and Keurig Dr
Can any of the company-specific risk be diversified away by investing in both Getty Realty and Keurig Dr 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 Keurig Dr into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Getty Realty and Keurig Dr Pepper, you can compare the effects of market volatilities on Getty Realty and Keurig Dr 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 Keurig Dr. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and Keurig Dr.
Diversification Opportunities for Getty Realty and Keurig Dr
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Getty and Keurig is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and Keurig Dr Pepper in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keurig Dr Pepper 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 Keurig Dr. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keurig Dr Pepper has no effect on the direction of Getty Realty i.e., Getty Realty and Keurig Dr go up and down completely randomly.
Pair Corralation between Getty Realty and Keurig Dr
Considering the 90-day investment horizon Getty Realty is expected to generate 0.74 times more return on investment than Keurig Dr. However, Getty Realty is 1.36 times less risky than Keurig Dr. It trades about 0.05 of its potential returns per unit of risk. Keurig Dr Pepper is currently generating about -0.09 per unit of risk. If you would invest 3,252 in Getty Realty on August 28, 2024 and sell it today you would earn a total of 35.00 from holding Getty Realty or generate 1.08% 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. Keurig Dr Pepper
Performance |
| Timeline |
| Getty Realty |
| Keurig Dr Pepper |
Getty Realty and Keurig Dr Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and Keurig Dr
The main advantage of trading using opposite Getty Realty and Keurig Dr positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, Keurig Dr 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 Keurig Dr will offset losses from the drop in Keurig Dr'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 |
| Keurig Dr vs. Celsius Holdings | Keurig Dr vs. Vita Coco | Keurig Dr vs. PepsiCo | Keurig Dr vs. Coca Cola Femsa SAB |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |