Correlation Between Getty Realty and COMCAST
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By analyzing existing cross correlation between Getty Realty and COMCAST P NEW, you can compare the effects of market volatilities on Getty Realty and COMCAST 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 COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and COMCAST.
Diversification Opportunities for Getty Realty and COMCAST
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Getty and COMCAST is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and COMCAST P NEW in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST P NEW 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 COMCAST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMCAST P NEW has no effect on the direction of Getty Realty i.e., Getty Realty and COMCAST go up and down completely randomly.
Pair Corralation between Getty Realty and COMCAST
Considering the 90-day investment horizon Getty Realty is expected to generate 28.25 times less return on investment than COMCAST. But when comparing it to its historical volatility, Getty Realty is 1.36 times less risky than COMCAST. It trades about 0.01 of its potential returns per unit of risk. COMCAST P NEW is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 7,915 in COMCAST P NEW on September 12, 2024 and sell it today you would earn a total of 315.00 from holding COMCAST P NEW or generate 3.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Getty Realty vs. COMCAST P NEW
Performance |
| Timeline |
| Getty Realty |
| COMCAST P NEW |
Getty Realty and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and COMCAST
The main advantage of trading using opposite Getty Realty and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, COMCAST 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 COMCAST will offset losses from the drop in COMCAST'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 |
| COMCAST vs. AEP TEX INC | COMCAST vs. US BANK NATIONAL | COMCAST vs. Applied Blockchain | COMCAST vs. BigBearai 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 Stocks Directory module to find actively traded stocks across global markets.
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