Correlation Between Healthpeak Properties and STAG Industrial,
Can any of the company-specific risk be diversified away by investing in both Healthpeak Properties and STAG Industrial, 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 Healthpeak Properties and STAG Industrial, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Healthpeak Properties and STAG Industrial,, you can compare the effects of market volatilities on Healthpeak Properties and STAG Industrial, 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 Healthpeak Properties with a short position of STAG Industrial,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Healthpeak Properties and STAG Industrial,.
Diversification Opportunities for Healthpeak Properties and STAG Industrial,
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Healthpeak and STAG is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Healthpeak Properties and STAG Industrial, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STAG Industrial, and Healthpeak Properties 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 Healthpeak Properties are associated (or correlated) with STAG Industrial,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STAG Industrial, has no effect on the direction of Healthpeak Properties i.e., Healthpeak Properties and STAG Industrial, go up and down completely randomly.
Pair Corralation between Healthpeak Properties and STAG Industrial,
Assuming the 90 days trading horizon Healthpeak Properties is expected to under-perform the STAG Industrial,. In addition to that, Healthpeak Properties is 1.12 times more volatile than STAG Industrial,. It trades about -0.32 of its total potential returns per unit of risk. STAG Industrial, is currently generating about -0.1 per unit of volatility. If you would invest 4,271 in STAG Industrial, on October 12, 2024 and sell it today you would lose (187.00) from holding STAG Industrial, or give up 4.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Healthpeak Properties vs. STAG Industrial,
Performance |
| Timeline |
| Healthpeak Properties |
| STAG Industrial, |
Healthpeak Properties and STAG Industrial, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Healthpeak Properties and STAG Industrial,
The main advantage of trading using opposite Healthpeak Properties and STAG Industrial, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Healthpeak Properties position performs unexpectedly, STAG Industrial, 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 STAG Industrial, will offset losses from the drop in STAG Industrial,'s long position.| Healthpeak Properties vs. Multilaser Industrial SA | Healthpeak Properties vs. DENTSPLY SIRONA | Healthpeak Properties vs. Metalrgica Riosulense SA | Healthpeak Properties vs. METISA Metalrgica Timboense |
| STAG Industrial, vs. Taiwan Semiconductor Manufacturing | STAG Industrial, vs. Apple Inc | STAG Industrial, vs. Alibaba Group Holding | STAG Industrial, vs. Banco Santander Chile |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |