Correlation Between Sabra Healthcare and 38173MAB8
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By analyzing existing cross correlation between Sabra Healthcare REIT and GBDC 25 24 AUG 26, you can compare the effects of market volatilities on Sabra Healthcare and 38173MAB8 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 38173MAB8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabra Healthcare and 38173MAB8.
Diversification Opportunities for Sabra Healthcare and 38173MAB8
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sabra and 38173MAB8 is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Sabra Healthcare REIT and GBDC 25 24 AUG 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBDC 25 24 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 38173MAB8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBDC 25 24 has no effect on the direction of Sabra Healthcare i.e., Sabra Healthcare and 38173MAB8 go up and down completely randomly.
Pair Corralation between Sabra Healthcare and 38173MAB8
Given the investment horizon of 90 days Sabra Healthcare REIT is expected to generate 3.25 times more return on investment than 38173MAB8. However, Sabra Healthcare is 3.25 times more volatile than GBDC 25 24 AUG 26. It trades about 0.15 of its potential returns per unit of risk. GBDC 25 24 AUG 26 is currently generating about -0.01 per unit of risk. If you would invest 1,381 in Sabra Healthcare REIT on September 3, 2024 and sell it today you would earn a total of 492.00 from holding Sabra Healthcare REIT or generate 35.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.63% |
| Values | Daily Returns |
Sabra Healthcare REIT vs. GBDC 25 24 AUG 26
Performance |
| Timeline |
| Sabra Healthcare REIT |
| GBDC 25 24 |
Sabra Healthcare and 38173MAB8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabra Healthcare and 38173MAB8
The main advantage of trading using opposite Sabra Healthcare and 38173MAB8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabra Healthcare position performs unexpectedly, 38173MAB8 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 38173MAB8 will offset losses from the drop in 38173MAB8's long position.| Sabra Healthcare vs. Community Healthcare Trust | Sabra Healthcare vs. Global Medical REIT | Sabra Healthcare vs. CareTrust REIT | Sabra Healthcare vs. Welltower |
| 38173MAB8 vs. Sabra Healthcare REIT | 38173MAB8 vs. Artisan Partners Asset | 38173MAB8 vs. PennantPark Investment | 38173MAB8 vs. Bluerock Homes 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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