Correlation Between Impact Growth and INET Leasehold
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By analyzing existing cross correlation between Impact Growth REIT and INET Leasehold REIT, you can compare the effects of market volatilities on Impact Growth 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 Impact Growth with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impact Growth and INET Leasehold.
Diversification Opportunities for Impact Growth and INET Leasehold
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Impact and INET is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Impact Growth REIT 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 Impact Growth 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 Impact Growth REIT 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 Impact Growth i.e., Impact Growth and INET Leasehold go up and down completely randomly.
Pair Corralation between Impact Growth and INET Leasehold
Assuming the 90 days trading horizon Impact Growth REIT is expected to under-perform the INET Leasehold. In addition to that, Impact Growth is 1.23 times more volatile than INET Leasehold REIT. It trades about -0.08 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.35 per unit of volatility. If you would invest 835.00 in INET Leasehold REIT on November 22, 2024 and sell it today you would earn a total of 55.00 from holding INET Leasehold REIT or generate 6.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Impact Growth REIT vs. INET Leasehold REIT
Performance |
| Timeline |
| Impact Growth REIT |
| INET Leasehold REIT |
Impact Growth and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impact Growth and INET Leasehold
The main advantage of trading using opposite Impact Growth and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impact Growth 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.| Impact Growth vs. CPN Retail Growth | Impact Growth vs. WHA Premium Growth | Impact Growth vs. Golden Ventures Leasehold | Impact Growth vs. LH Shopping Centers |
| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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