Correlation Between Primaris Real and Saul Centers
Can any of the company-specific risk be diversified away by investing in both Primaris Real and Saul Centers 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 Primaris Real and Saul Centers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Primaris Real Estate and Saul Centers, you can compare the effects of market volatilities on Primaris Real and Saul Centers 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 Primaris Real with a short position of Saul Centers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Primaris Real and Saul Centers.
Diversification Opportunities for Primaris Real and Saul Centers
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Primaris and Saul is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Primaris Real Estate and Saul Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saul Centers and Primaris Real 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 Primaris Real Estate are associated (or correlated) with Saul Centers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saul Centers has no effect on the direction of Primaris Real i.e., Primaris Real and Saul Centers go up and down completely randomly.
Pair Corralation between Primaris Real and Saul Centers
Assuming the 90 days horizon Primaris Real Estate is expected to under-perform the Saul Centers. But the pink sheet apears to be less risky and, when comparing its historical volatility, Primaris Real Estate is 2.83 times less risky than Saul Centers. The pink sheet trades about -0.37 of its potential returns per unit of risk. The Saul Centers is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 3,914 in Saul Centers on September 1, 2024 and sell it today you would earn a total of 197.00 from holding Saul Centers or generate 5.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Primaris Real Estate vs. Saul Centers
Performance |
| Timeline |
| Primaris Real Estate |
| Saul Centers |
Primaris Real and Saul Centers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Primaris Real and Saul Centers
The main advantage of trading using opposite Primaris Real and Saul Centers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Primaris Real position performs unexpectedly, Saul Centers 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 Saul Centers will offset losses from the drop in Saul Centers' long position.| Primaris Real vs. Slate Grocery REIT | Primaris Real vs. Seritage Growth Properties | Primaris Real vs. Smart REIT | Primaris Real vs. Riocan REIT |
| Saul Centers vs. Urban Edge Properties | Saul Centers vs. Site Centers Corp | Saul Centers vs. Kite Realty Group | Saul Centers vs. Acadia Realty Trust |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |