Correlation Between Getty Realty and 87165BAS2

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Can any of the company-specific risk be diversified away by investing in both Getty Realty and 87165BAS2 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 87165BAS2 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Getty Realty and SYF 4875 13 JUN 25, you can compare the effects of market volatilities on Getty Realty and 87165BAS2 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 87165BAS2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and 87165BAS2.

Diversification Opportunities for Getty Realty and 87165BAS2

-0.26
  Correlation Coefficient

Very good diversification

The 3 months correlation between Getty and 87165BAS2 is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and SYF 4875 13 JUN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SYF 4875 13 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 87165BAS2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SYF 4875 13 has no effect on the direction of Getty Realty i.e., Getty Realty and 87165BAS2 go up and down completely randomly.

Pair Corralation between Getty Realty and 87165BAS2

Considering the 90-day investment horizon Getty Realty is expected to generate 1.97 times more return on investment than 87165BAS2. However, Getty Realty is 1.97 times more volatile than SYF 4875 13 JUN 25. It trades about 0.02 of its potential returns per unit of risk. SYF 4875 13 JUN 25 is currently generating about 0.01 per unit of risk. If you would invest  2,977  in Getty Realty on September 2, 2024 and sell it today you would earn a total of  311.00  from holding Getty Realty or generate 10.45% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy95.36%
ValuesDaily Returns

Getty Realty  vs.  SYF 4875 13 JUN 25

 Performance 
       Timeline  
Getty Realty 

Risk-Adjusted Performance

6 of 100

 
Weak
 
Strong
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in Getty Realty are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of fairly strong basic indicators, Getty Realty is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.
SYF 4875 13 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days SYF 4875 13 JUN 25 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, 87165BAS2 is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Getty Realty and 87165BAS2 Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Getty Realty and 87165BAS2

The main advantage of trading using opposite Getty Realty and 87165BAS2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, 87165BAS2 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 87165BAS2 will offset losses from the drop in 87165BAS2's long position.
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The idea behind Getty Realty and SYF 4875 13 JUN 25 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.

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