Correlation Between Sabra Health and TOTAL PRODUCE
Can any of the company-specific risk be diversified away by investing in both Sabra Health and TOTAL PRODUCE 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 Sabra Health and TOTAL PRODUCE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sabra Health Care and TOTAL PRODUCE, you can compare the effects of market volatilities on Sabra Health and TOTAL PRODUCE 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 Sabra Health with a short position of TOTAL PRODUCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabra Health and TOTAL PRODUCE.
Diversification Opportunities for Sabra Health and TOTAL PRODUCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sabra and TOTAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sabra Health Care and TOTAL PRODUCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TOTAL PRODUCE and Sabra Health 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 Sabra Health Care are associated (or correlated) with TOTAL PRODUCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TOTAL PRODUCE has no effect on the direction of Sabra Health i.e., Sabra Health and TOTAL PRODUCE go up and down completely randomly.
Pair Corralation between Sabra Health and TOTAL PRODUCE
If you would invest 1,034 in Sabra Health Care on September 4, 2024 and sell it today you would earn a total of 738.00 from holding Sabra Health Care or generate 71.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sabra Health Care vs. TOTAL PRODUCE
Performance |
| Timeline |
| Sabra Health Care |
| TOTAL PRODUCE |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Sabra Health and TOTAL PRODUCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabra Health and TOTAL PRODUCE
The main advantage of trading using opposite Sabra Health and TOTAL PRODUCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabra Health position performs unexpectedly, TOTAL PRODUCE 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 TOTAL PRODUCE will offset losses from the drop in TOTAL PRODUCE's long position.| Sabra Health vs. Welltower | Sabra Health vs. Omega Healthcare Investors | Sabra Health vs. Medical Properties Trust | Sabra Health vs. National Health Investors |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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