Correlation Between Intuitive Machines and CapitaLand Integrated
Can any of the company-specific risk be diversified away by investing in both Intuitive Machines and CapitaLand Integrated 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 Intuitive Machines and CapitaLand Integrated into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intuitive Machines and CapitaLand Integrated Commercial, you can compare the effects of market volatilities on Intuitive Machines and CapitaLand Integrated 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 Intuitive Machines with a short position of CapitaLand Integrated. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Machines and CapitaLand Integrated.
Diversification Opportunities for Intuitive Machines and CapitaLand Integrated
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intuitive and CapitaLand is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Machines and CapitaLand Integrated Commerci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CapitaLand Integrated and Intuitive Machines 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 Intuitive Machines are associated (or correlated) with CapitaLand Integrated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CapitaLand Integrated has no effect on the direction of Intuitive Machines i.e., Intuitive Machines and CapitaLand Integrated go up and down completely randomly.
Pair Corralation between Intuitive Machines and CapitaLand Integrated
Given the investment horizon of 90 days Intuitive Machines is expected to generate 2.29 times more return on investment than CapitaLand Integrated. However, Intuitive Machines is 2.29 times more volatile than CapitaLand Integrated Commercial. It trades about 0.46 of its potential returns per unit of risk. CapitaLand Integrated Commercial is currently generating about -0.23 per unit of risk. If you would invest 1,242 in Intuitive Machines on October 7, 2024 and sell it today you would earn a total of 947.00 from holding Intuitive Machines or generate 76.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intuitive Machines vs. CapitaLand Integrated Commerci
Performance |
| Timeline |
| Intuitive Machines |
| CapitaLand Integrated |
Intuitive Machines and CapitaLand Integrated Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intuitive Machines and CapitaLand Integrated
The main advantage of trading using opposite Intuitive Machines and CapitaLand Integrated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuitive Machines position performs unexpectedly, CapitaLand Integrated 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 CapitaLand Integrated will offset losses from the drop in CapitaLand Integrated's long position.| Intuitive Machines vs. Redwire Corp | Intuitive Machines vs. Sidus Space | Intuitive Machines vs. Rocket Lab USA | Intuitive Machines vs. Momentus |
| CapitaLand Integrated vs. Cedar Realty Trust | CapitaLand Integrated vs. Wheeler Real Estate | CapitaLand Integrated vs. Macerich Company | CapitaLand Integrated vs. Simon Property Group |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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