Correlation Between Sabra Healthcare and 835495AM4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sabra Healthcare REIT and SON 18 01 FEB 25, you can compare the effects of market volatilities on Sabra Healthcare and 835495AM4 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 835495AM4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabra Healthcare and 835495AM4.
Diversification Opportunities for Sabra Healthcare and 835495AM4
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sabra and 835495AM4 is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Sabra Healthcare REIT and SON 18 01 FEB 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SON 18 01 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 835495AM4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SON 18 01 has no effect on the direction of Sabra Healthcare i.e., Sabra Healthcare and 835495AM4 go up and down completely randomly.
Pair Corralation between Sabra Healthcare and 835495AM4
Given the investment horizon of 90 days Sabra Healthcare REIT is expected to generate 1.3 times more return on investment than 835495AM4. However, Sabra Healthcare is 1.3 times more volatile than SON 18 01 FEB 25. It trades about 0.01 of its potential returns per unit of risk. SON 18 01 FEB 25 is currently generating about -0.2 per unit of risk. If you would invest 1,837 in Sabra Healthcare REIT on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Sabra Healthcare REIT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Sabra Healthcare REIT vs. SON 18 01 FEB 25
Performance |
| Timeline |
| Sabra Healthcare REIT |
| SON 18 01 |
Sabra Healthcare and 835495AM4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabra Healthcare and 835495AM4
The main advantage of trading using opposite Sabra Healthcare and 835495AM4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabra Healthcare position performs unexpectedly, 835495AM4 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 835495AM4 will offset losses from the drop in 835495AM4's long position.| Sabra Healthcare vs. Community Healthcare Trust | Sabra Healthcare vs. Global Medical REIT | Sabra Healthcare vs. CareTrust REIT | Sabra Healthcare vs. Welltower |
| 835495AM4 vs. Chiba Bank Ltd | 835495AM4 vs. Encore Capital Group | 835495AM4 vs. Where Food Comes | 835495AM4 vs. FitLife Brands, Common |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |