Correlation Between Regeneron Pharmaceuticals and SIMON
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By analyzing existing cross correlation between Regeneron Pharmaceuticals and SIMON PROPERTY GROUP, you can compare the effects of market volatilities on Regeneron Pharmaceuticals and SIMON 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 Regeneron Pharmaceuticals with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Regeneron Pharmaceuticals and SIMON.
Diversification Opportunities for Regeneron Pharmaceuticals and SIMON
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Regeneron and SIMON is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Regeneron Pharmaceuticals and SIMON PROPERTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PROPERTY GROUP and Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PROPERTY GROUP has no effect on the direction of Regeneron Pharmaceuticals i.e., Regeneron Pharmaceuticals and SIMON go up and down completely randomly.
Pair Corralation between Regeneron Pharmaceuticals and SIMON
Given the investment horizon of 90 days Regeneron Pharmaceuticals is expected to under-perform the SIMON. In addition to that, Regeneron Pharmaceuticals is 5.69 times more volatile than SIMON PROPERTY GROUP. It trades about -0.13 of its total potential returns per unit of risk. SIMON PROPERTY GROUP is currently generating about 0.21 per unit of volatility. If you would invest 9,138 in SIMON PROPERTY GROUP on October 25, 2024 and sell it today you would earn a total of 134.00 from holding SIMON PROPERTY GROUP or generate 1.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.0% |
| Values | Daily Returns |
Regeneron Pharmaceuticals vs. SIMON PROPERTY GROUP
Performance |
| Timeline |
| Regeneron Pharmaceuticals |
| SIMON PROPERTY GROUP |
Regeneron Pharmaceuticals and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Regeneron Pharmaceuticals and SIMON
The main advantage of trading using opposite Regeneron Pharmaceuticals and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Regeneron Pharmaceuticals position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| Regeneron Pharmaceuticals vs. Crispr Therapeutics AG | Regeneron Pharmaceuticals vs. Novo Nordisk AS | Regeneron Pharmaceuticals vs. Sarepta Therapeutics | Regeneron Pharmaceuticals vs. Intellia Therapeutics |
| SIMON vs. Allient | SIMON vs. MACOM Technology Solutions | SIMON vs. Kulicke and Soffa | SIMON vs. Vishay Intertechnology |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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