Correlation Between Sabra Healthcare and 037389BE2
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By analyzing existing cross correlation between Sabra Healthcare REIT and AON P, you can compare the effects of market volatilities on Sabra Healthcare and 037389BE2 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 Healthcare with a short position of 037389BE2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabra Healthcare and 037389BE2.
Diversification Opportunities for Sabra Healthcare and 037389BE2
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sabra and 037389BE2 is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Sabra Healthcare REIT and AON P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 037389BE2 and Sabra Healthcare 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 Healthcare REIT are associated (or correlated) with 037389BE2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 037389BE2 has no effect on the direction of Sabra Healthcare i.e., Sabra Healthcare and 037389BE2 go up and down completely randomly.
Pair Corralation between Sabra Healthcare and 037389BE2
Given the investment horizon of 90 days Sabra Healthcare REIT is expected to under-perform the 037389BE2. In addition to that, Sabra Healthcare is 3.39 times more volatile than AON P. It trades about -0.23 of its total potential returns per unit of risk. AON P is currently generating about 0.07 per unit of volatility. If you would invest 8,971 in AON P on November 27, 2024 and sell it today you would earn a total of 55.00 from holding AON P or generate 0.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sabra Healthcare REIT vs. AON P
Performance |
| Timeline |
| Sabra Healthcare REIT |
| 037389BE2 |
Sabra Healthcare and 037389BE2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabra Healthcare and 037389BE2
The main advantage of trading using opposite Sabra Healthcare and 037389BE2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabra Healthcare position performs unexpectedly, 037389BE2 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 037389BE2 will offset losses from the drop in 037389BE2's long position.| Sabra Healthcare vs. Healthcare Realty Trust | Sabra Healthcare vs. Healthpeak Properties | Sabra Healthcare vs. Community Healthcare Trust | Sabra Healthcare vs. Universal Health Realty |
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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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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