Correlation Between HEMARAJ INDUSTRIAL and INET Leasehold
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By analyzing existing cross correlation between HEMARAJ INDUSTRIAL PROPERTY and INET Leasehold REIT, you can compare the effects of market volatilities on HEMARAJ INDUSTRIAL and INET Leasehold 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 HEMARAJ INDUSTRIAL with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of HEMARAJ INDUSTRIAL and INET Leasehold.
Diversification Opportunities for HEMARAJ INDUSTRIAL and INET Leasehold
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between HEMARAJ and INET is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding HEMARAJ INDUSTRIAL PROPERTY and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and HEMARAJ INDUSTRIAL 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 HEMARAJ INDUSTRIAL PROPERTY are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of HEMARAJ INDUSTRIAL i.e., HEMARAJ INDUSTRIAL and INET Leasehold go up and down completely randomly.
Pair Corralation between HEMARAJ INDUSTRIAL and INET Leasehold
Assuming the 90 days trading horizon HEMARAJ INDUSTRIAL PROPERTY is expected to generate 306.65 times more return on investment than INET Leasehold. However, HEMARAJ INDUSTRIAL is 306.65 times more volatile than INET Leasehold REIT. It trades about 0.19 of its potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.08 per unit of risk. If you would invest 500.00 in HEMARAJ INDUSTRIAL PROPERTY on September 1, 2024 and sell it today you would earn a total of 5.00 from holding HEMARAJ INDUSTRIAL PROPERTY or generate 1.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HEMARAJ INDUSTRIAL PROPERTY vs. INET Leasehold REIT
Performance |
| Timeline |
| HEMARAJ INDUSTRIAL |
| INET Leasehold REIT |
HEMARAJ INDUSTRIAL and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HEMARAJ INDUSTRIAL and INET Leasehold
The main advantage of trading using opposite HEMARAJ INDUSTRIAL and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HEMARAJ INDUSTRIAL position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.The idea behind HEMARAJ INDUSTRIAL PROPERTY and INET Leasehold REIT 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.| INET Leasehold vs. LH Shopping Centers | INET Leasehold vs. HEMARAJ INDUSTRIAL PROPERTY | INET Leasehold vs. Land and Houses |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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