Correlation Between Postal Realty and EXXON
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By analyzing existing cross correlation between Postal Realty Trust and EXXON MOBIL P, you can compare the effects of market volatilities on Postal Realty and EXXON 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 Postal Realty with a short position of EXXON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Realty and EXXON.
Diversification Opportunities for Postal Realty and EXXON
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Postal and EXXON is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Postal Realty Trust and EXXON MOBIL P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXXON MOBIL P and Postal Realty 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 Postal Realty Trust are associated (or correlated) with EXXON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXXON MOBIL P has no effect on the direction of Postal Realty i.e., Postal Realty and EXXON go up and down completely randomly.
Pair Corralation between Postal Realty and EXXON
Given the investment horizon of 90 days Postal Realty Trust is expected to under-perform the EXXON. But the stock apears to be less risky and, when comparing its historical volatility, Postal Realty Trust is 1.41 times less risky than EXXON. The stock trades about -0.22 of its potential returns per unit of risk. The EXXON MOBIL P is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 7,813 in EXXON MOBIL P on September 12, 2024 and sell it today you would earn a total of 300.00 from holding EXXON MOBIL P or generate 3.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Realty Trust vs. EXXON MOBIL P
Performance |
| Timeline |
| Postal Realty Trust |
| EXXON MOBIL P |
Postal Realty and EXXON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Realty and EXXON
The main advantage of trading using opposite Postal Realty and EXXON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Realty position performs unexpectedly, EXXON 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 EXXON will offset losses from the drop in EXXON's long position.| Postal Realty vs. Office Properties Income | Postal Realty vs. Boston Properties | Postal Realty vs. SL Green Realty | Postal Realty vs. Alexandria Real Estate |
| EXXON vs. Barrick Gold Corp | EXXON vs. Perseus Mining Limited | EXXON vs. Summit Materials | EXXON vs. Nok Airlines Public |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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