Correlation Between Land and INET Leasehold
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By analyzing existing cross correlation between Land and Houses and INET Leasehold REIT, you can compare the effects of market volatilities on Land 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 Land with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Land and INET Leasehold.
Diversification Opportunities for Land and INET Leasehold
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Land and INET is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Land and Houses 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 Land 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 Land and Houses 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 Land i.e., Land and INET Leasehold go up and down completely randomly.
Pair Corralation between Land and INET Leasehold
Assuming the 90 days trading horizon Land and Houses is expected to under-perform the INET Leasehold. In addition to that, Land is 30.45 times more volatile than INET Leasehold REIT. It trades about -0.21 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.08 per unit of volatility. If you would invest 840.00 in INET Leasehold REIT on September 1, 2024 and sell it today you would earn a total of 10.00 from holding INET Leasehold REIT or generate 1.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Land and Houses vs. INET Leasehold REIT
Performance |
| Timeline |
| Land and Houses |
| INET Leasehold REIT |
Land and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Land and INET Leasehold
The main advantage of trading using opposite Land and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Land 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.| Land vs. Quality Houses Hotel | Land vs. Major Cineplex Lifestyle | Land vs. Quality Houses Property | Land vs. LH Shopping Centers |
| 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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