Correlation Between RPT Realty and Slate Grocery
Can any of the company-specific risk be diversified away by investing in both RPT Realty and Slate Grocery 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 Slate Grocery into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between RPT Realty and Slate Grocery REIT, you can compare the effects of market volatilities on RPT Realty and Slate Grocery 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 Slate Grocery. Check out your portfolio center. Please also check ongoing floating volatility patterns of RPT Realty and Slate Grocery.
Diversification Opportunities for RPT Realty and Slate Grocery
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between RPT and Slate is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding RPT Realty and Slate Grocery REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Slate Grocery REIT 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 Slate Grocery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Slate Grocery REIT has no effect on the direction of RPT Realty i.e., RPT Realty and Slate Grocery go up and down completely randomly.
Pair Corralation between RPT Realty and Slate Grocery
If you would invest 992.00 in Slate Grocery REIT on August 28, 2024 and sell it today you would earn a total of 44.00 from holding Slate Grocery REIT or generate 4.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
RPT Realty vs. Slate Grocery REIT
Performance |
| Timeline |
| RPT Realty |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Slate Grocery REIT |
RPT Realty and Slate Grocery Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RPT Realty and Slate Grocery
The main advantage of trading using opposite RPT Realty and Slate Grocery positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RPT Realty position performs unexpectedly, Slate Grocery 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 Slate Grocery will offset losses from the drop in Slate Grocery'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 |
| Slate Grocery vs. Choice Properties Real | Slate Grocery vs. CT Real Estate | Slate Grocery vs. Firm Capital Property | Slate Grocery vs. Riocan REIT |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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