Correlation Between Getty Realty and 90331HPL1
Specify exactly 2 symbols:
By analyzing existing cross correlation between Getty Realty and US BANK NATIONAL, you can compare the effects of market volatilities on Getty Realty and 90331HPL1 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 90331HPL1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and 90331HPL1.
Diversification Opportunities for Getty Realty and 90331HPL1
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Getty and 90331HPL1 is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and US BANK NATIONAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US BANK NATIONAL 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 90331HPL1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US BANK NATIONAL has no effect on the direction of Getty Realty i.e., Getty Realty and 90331HPL1 go up and down completely randomly.
Pair Corralation between Getty Realty and 90331HPL1
Considering the 90-day investment horizon Getty Realty is expected to generate 329.33 times less return on investment than 90331HPL1. But when comparing it to its historical volatility, Getty Realty is 78.1 times less risky than 90331HPL1. It trades about 0.02 of its potential returns per unit of risk. US BANK NATIONAL is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 9,485 in US BANK NATIONAL on August 27, 2024 and sell it today you would earn a total of 111.00 from holding US BANK NATIONAL or generate 1.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 62.9% |
| Values | Daily Returns |
Getty Realty vs. US BANK NATIONAL
Performance |
| Timeline |
| Getty Realty |
| US BANK NATIONAL |
Getty Realty and 90331HPL1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Getty Realty and 90331HPL1
The main advantage of trading using opposite Getty Realty and 90331HPL1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, 90331HPL1 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 90331HPL1 will offset losses from the drop in 90331HPL1'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 |
| 90331HPL1 vs. Coupang LLC | 90331HPL1 vs. Getty Realty | 90331HPL1 vs. Asbury Automotive Group | 90331HPL1 vs. Lion One Metals |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |