Correlation Between IShares Cohen and Site Centers
Can any of the company-specific risk be diversified away by investing in both IShares Cohen and Site Centers 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 IShares Cohen and Site Centers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between iShares Cohen Steers and Site Centers Corp, you can compare the effects of market volatilities on IShares Cohen and Site Centers 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 IShares Cohen with a short position of Site Centers. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares Cohen and Site Centers.
Diversification Opportunities for IShares Cohen and Site Centers
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IShares and Site is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding iShares Cohen Steers and Site Centers Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Site Centers Corp and IShares Cohen 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 iShares Cohen Steers are associated (or correlated) with Site Centers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Site Centers Corp has no effect on the direction of IShares Cohen i.e., IShares Cohen and Site Centers go up and down completely randomly.
Pair Corralation between IShares Cohen and Site Centers
Considering the 90-day investment horizon IShares Cohen is expected to generate 3.34 times less return on investment than Site Centers. But when comparing it to its historical volatility, iShares Cohen Steers is 2.24 times less risky than Site Centers. It trades about 0.04 of its potential returns per unit of risk. Site Centers Corp is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 824.00 in Site Centers Corp on August 28, 2024 and sell it today you would earn a total of 776.00 from holding Site Centers Corp or generate 94.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
iShares Cohen Steers vs. Site Centers Corp
Performance |
| Timeline |
| iShares Cohen Steers |
| Site Centers Corp |
IShares Cohen and Site Centers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares Cohen and Site Centers
The main advantage of trading using opposite IShares Cohen and Site Centers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares Cohen position performs unexpectedly, Site Centers 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 Site Centers will offset losses from the drop in Site Centers' long position.| IShares Cohen vs. SPDR Dow Jones | IShares Cohen vs. iShares Real Estate | IShares Cohen vs. iShares North American | IShares Cohen vs. iShares Utilities ETF |
| Site Centers vs. Saul Centers | Site Centers vs. Acadia Realty Trust | Site Centers vs. Kite Realty Group | Site Centers vs. Retail Opportunity Investments |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Positions Ratings 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 | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |