Correlation Between Sabra Healthcare and 743315AY9
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By analyzing existing cross correlation between Sabra Healthcare REIT and PGR 25 15 MAR 27, you can compare the effects of market volatilities on Sabra Healthcare and 743315AY9 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 743315AY9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabra Healthcare and 743315AY9.
Diversification Opportunities for Sabra Healthcare and 743315AY9
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sabra and 743315AY9 is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Sabra Healthcare REIT and PGR 25 15 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PGR 25 15 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 743315AY9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PGR 25 15 has no effect on the direction of Sabra Healthcare i.e., Sabra Healthcare and 743315AY9 go up and down completely randomly.
Pair Corralation between Sabra Healthcare and 743315AY9
Given the investment horizon of 90 days Sabra Healthcare REIT is expected to generate 3.82 times more return on investment than 743315AY9. However, Sabra Healthcare is 3.82 times more volatile than PGR 25 15 MAR 27. It trades about 0.12 of its potential returns per unit of risk. PGR 25 15 MAR 27 is currently generating about 0.01 per unit of risk. If you would invest 1,035 in Sabra Healthcare REIT on August 31, 2024 and sell it today you would earn a total of 838.00 from holding Sabra Healthcare REIT or generate 80.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 91.71% |
| Values | Daily Returns |
Sabra Healthcare REIT vs. PGR 25 15 MAR 27
Performance |
| Timeline |
| Sabra Healthcare REIT |
| PGR 25 15 |
Sabra Healthcare and 743315AY9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabra Healthcare and 743315AY9
The main advantage of trading using opposite Sabra Healthcare and 743315AY9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabra Healthcare position performs unexpectedly, 743315AY9 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 743315AY9 will offset losses from the drop in 743315AY9's long position.| Sabra Healthcare vs. LTC Properties | Sabra Healthcare vs. Omega Healthcare Investors | Sabra Healthcare vs. Ventas Inc | Sabra Healthcare vs. Community Healthcare Trust |
| 743315AY9 vs. Jacobs Solutions | 743315AY9 vs. Chester Mining | 743315AY9 vs. Asure Software | 743315AY9 vs. Electrovaya Common Shares |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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