Correlation Between Getty Realty and GENERAL
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By analyzing existing cross correlation between Getty Realty and GENERAL ELEC CAP, you can compare the effects of market volatilities on Getty Realty and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and GENERAL.
Diversification Opportunities for Getty Realty and GENERAL
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Getty and GENERAL is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Getty Realty i.e., Getty Realty and GENERAL go up and down completely randomly.
Pair Corralation between Getty Realty and GENERAL
Considering the 90-day investment horizon Getty Realty is expected to generate 1.08 times more return on investment than GENERAL. However, Getty Realty is 1.08 times more volatile than GENERAL ELEC CAP. It trades about 0.11 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.16 per unit of risk. If you would invest 3,181 in Getty Realty on August 31, 2024 and sell it today you would earn a total of 150.00 from holding Getty Realty or generate 4.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 54.55% |
| Values | Daily Returns |
Getty Realty vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Getty Realty |
| GENERAL ELEC CAP |
Getty Realty and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and GENERAL
The main advantage of trading using opposite Getty Realty and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
| GENERAL vs. Getty Images Holdings | GENERAL vs. Zedge Inc | GENERAL vs. Radcom | GENERAL vs. WiMi Hologram Cloud |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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