Correlation Between IShares Ultra and SIMON
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By analyzing existing cross correlation between iShares Ultra Short Term and SIMON PROPERTY GROUP, you can compare the effects of market volatilities on IShares Ultra and SIMON 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 Ultra with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares Ultra and SIMON.
Diversification Opportunities for IShares Ultra and SIMON
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IShares and SIMON is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding iShares Ultra Short Term and SIMON PROPERTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PROPERTY GROUP and IShares Ultra 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 Ultra Short Term are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PROPERTY GROUP has no effect on the direction of IShares Ultra i.e., IShares Ultra and SIMON go up and down completely randomly.
Pair Corralation between IShares Ultra and SIMON
Given the investment horizon of 90 days iShares Ultra Short Term is expected to generate 0.03 times more return on investment than SIMON. However, iShares Ultra Short Term is 29.85 times less risky than SIMON. It trades about 0.79 of its potential returns per unit of risk. SIMON PROPERTY GROUP is currently generating about 0.02 per unit of risk. If you would invest 4,805 in iShares Ultra Short Term on November 3, 2024 and sell it today you would earn a total of 260.00 from holding iShares Ultra Short Term or generate 5.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.19% |
| Values | Daily Returns |
iShares Ultra Short Term vs. SIMON PROPERTY GROUP
Performance |
| Timeline |
| iShares Ultra Short |
| SIMON PROPERTY GROUP |
IShares Ultra and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares Ultra and SIMON
The main advantage of trading using opposite IShares Ultra and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares Ultra position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| IShares Ultra vs. iShares Short Maturity | IShares Ultra vs. JPMorgan Ultra Short Income | IShares Ultra vs. Invesco Ultra Short | IShares Ultra vs. iShares 1 5 Year |
| SIMON vs. AEP TEX INC | SIMON vs. US BANK NATIONAL | SIMON vs. Gilat Satellite Networks | SIMON vs. Permex Petroleum |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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