Correlation Between RPT Realty and Saul Centers
Can any of the company-specific risk be diversified away by investing in both RPT Realty 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 RPT Realty and Saul Centers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between RPT Realty and Saul Centers, you can compare the effects of market volatilities on RPT Realty 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 RPT Realty with a short position of Saul Centers. Check out your portfolio center. Please also check ongoing floating volatility patterns of RPT Realty and Saul Centers.
Diversification Opportunities for RPT Realty and Saul Centers
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between RPT and Saul is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding RPT Realty and Saul Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saul Centers and RPT 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 RPT Realty 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 RPT Realty i.e., RPT Realty and Saul Centers go up and down completely randomly.
Pair Corralation between RPT Realty and Saul Centers
If you would invest 3,487 in Saul Centers on August 24, 2024 and sell it today you would earn a total of 491.00 from holding Saul Centers or generate 14.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.8% |
| Values | Daily Returns |
RPT Realty vs. Saul Centers
Performance |
| Timeline |
| RPT Realty |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Saul Centers |
RPT Realty and Saul Centers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RPT Realty and Saul Centers
The main advantage of trading using opposite RPT Realty and Saul Centers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RPT Realty 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.| RPT Realty vs. Urban Edge Properties | RPT Realty vs. Kite Realty Group | RPT Realty vs. Retail Opportunity Investments | RPT Realty vs. Inventrust Properties Corp |
| 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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