Correlation Between Getty Realty and Lep Technology
Can any of the company-specific risk be diversified away by investing in both Getty Realty and Lep Technology 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 Lep Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Getty Realty and Lep Technology, you can compare the effects of market volatilities on Getty Realty and Lep Technology 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 Lep Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and Lep Technology.
Diversification Opportunities for Getty Realty and Lep Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Getty and Lep is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and Lep Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lep Technology 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 Lep Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lep Technology has no effect on the direction of Getty Realty i.e., Getty Realty and Lep Technology go up and down completely randomly.
Pair Corralation between Getty Realty and Lep Technology
If you would invest 3,139 in Getty Realty on September 12, 2024 and sell it today you would earn a total of 103.00 from holding Getty Realty or generate 3.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Getty Realty vs. Lep Technology
Performance |
| Timeline |
| Getty Realty |
| Lep Technology |
Getty Realty and Lep Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and Lep Technology
The main advantage of trading using opposite Getty Realty and Lep Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, Lep Technology 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 Lep Technology will offset losses from the drop in Lep Technology'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 |
| Lep Technology vs. Reservoir Media | Lep Technology vs. Citizens Bancorp Investment | Lep Technology vs. Alchemy Investments Acquisition | Lep Technology vs. Alvarium Tiedemann Holdings |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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