Correlation Between Malaga Financial and Getty Realty
Can any of the company-specific risk be diversified away by investing in both Malaga Financial and Getty Realty 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 Malaga Financial and Getty Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Malaga Financial and Getty Realty, you can compare the effects of market volatilities on Malaga Financial and Getty Realty 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 Malaga Financial with a short position of Getty Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Malaga Financial and Getty Realty.
Diversification Opportunities for Malaga Financial and Getty Realty
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Malaga and Getty is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Malaga Financial and Getty Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Getty Realty and Malaga Financial 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 Malaga Financial are associated (or correlated) with Getty Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Getty Realty has no effect on the direction of Malaga Financial i.e., Malaga Financial and Getty Realty go up and down completely randomly.
Pair Corralation between Malaga Financial and Getty Realty
Given the investment horizon of 90 days Malaga Financial is expected to under-perform the Getty Realty. But the pink sheet apears to be less risky and, when comparing its historical volatility, Malaga Financial is 3.07 times less risky than Getty Realty. The pink sheet trades about -0.07 of its potential returns per unit of risk. The Getty Realty is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 3,252 in Getty Realty on August 28, 2024 and sell it today you would earn a total of 35.00 from holding Getty Realty or generate 1.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Malaga Financial vs. Getty Realty
Performance |
| Timeline |
| Malaga Financial |
| Getty Realty |
Malaga Financial and Getty Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Malaga Financial and Getty Realty
The main advantage of trading using opposite Malaga Financial and Getty Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Malaga Financial position performs unexpectedly, Getty Realty 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 Getty Realty will offset losses from the drop in Getty Realty's long position.| Malaga Financial vs. Invesco High Income | Malaga Financial vs. Blackrock Muniholdings Ny | Malaga Financial vs. MFS Investment Grade | Malaga Financial vs. Federated Premier Municipal |
| Getty Realty vs. Regency Centers | Getty Realty vs. Site Centers Corp | Getty Realty vs. Brixmor Property | Getty Realty vs. Tanger Factory Outlet |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |