Correlation Between RPT Realty and Getty Realty
Can any of the company-specific risk be diversified away by investing in both RPT Realty and Getty Realty 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 Getty Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between RPT Realty and Getty Realty, you can compare the effects of market volatilities on RPT Realty and Getty Realty 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 Getty Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of RPT Realty and Getty Realty.
Diversification Opportunities for RPT Realty and Getty Realty
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between RPT and Getty is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding RPT Realty and Getty Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Getty Realty 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 Getty Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Getty Realty has no effect on the direction of RPT Realty i.e., RPT Realty and Getty Realty go up and down completely randomly.
Pair Corralation between RPT Realty and Getty Realty
If you would invest 3,210 in Getty Realty on August 30, 2024 and sell it today you would earn a total of 121.00 from holding Getty Realty or generate 3.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
RPT Realty vs. Getty Realty
Performance |
| Timeline |
| RPT Realty |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Getty Realty |
RPT Realty and Getty Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RPT Realty and Getty Realty
The main advantage of trading using opposite RPT Realty and Getty Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RPT Realty position performs unexpectedly, Getty Realty 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 Getty Realty will offset losses from the drop in Getty Realty's 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 |
| Getty Realty vs. Regency Centers | Getty Realty vs. Site Centers Corp | Getty Realty vs. Brixmor Property | Getty Realty vs. Tanger Factory Outlet |
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 Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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