Correlation Between National CineMedia and BRIXMOR
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By analyzing existing cross correlation between National CineMedia and BRIXMOR OPERATING PARTNERSHIP, you can compare the effects of market volatilities on National CineMedia and BRIXMOR 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 National CineMedia with a short position of BRIXMOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of National CineMedia and BRIXMOR.
Diversification Opportunities for National CineMedia and BRIXMOR
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between National and BRIXMOR is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding National CineMedia and BRIXMOR OPERATING PARTNERSHIP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BRIXMOR OPERATING and National CineMedia 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 National CineMedia are associated (or correlated) with BRIXMOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BRIXMOR OPERATING has no effect on the direction of National CineMedia i.e., National CineMedia and BRIXMOR go up and down completely randomly.
Pair Corralation between National CineMedia and BRIXMOR
Given the investment horizon of 90 days National CineMedia is expected to generate 13.6 times more return on investment than BRIXMOR. However, National CineMedia is 13.6 times more volatile than BRIXMOR OPERATING PARTNERSHIP. It trades about 0.05 of its potential returns per unit of risk. BRIXMOR OPERATING PARTNERSHIP is currently generating about 0.0 per unit of risk. If you would invest 390.00 in National CineMedia on September 3, 2024 and sell it today you would earn a total of 305.00 from holding National CineMedia or generate 78.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.78% |
| Values | Daily Returns |
National CineMedia vs. BRIXMOR OPERATING PARTNERSHIP
Performance |
| Timeline |
| National CineMedia |
| BRIXMOR OPERATING |
National CineMedia and BRIXMOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with National CineMedia and BRIXMOR
The main advantage of trading using opposite National CineMedia and BRIXMOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National CineMedia position performs unexpectedly, BRIXMOR 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 BRIXMOR will offset losses from the drop in BRIXMOR's long position.| National CineMedia vs. MGO Global Common | National CineMedia vs. Baosheng Media Group | National CineMedia vs. Glory Star New | National CineMedia vs. Impact Fusion International |
| BRIXMOR vs. Air Products and | BRIXMOR vs. Sensient Technologies | BRIXMOR vs. KVH Industries | BRIXMOR vs. National CineMedia |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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