Correlation Between SL Green and BRASKM
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By analyzing existing cross correlation between SL Green Realty and BRASKM 45 31 JAN 30, you can compare the effects of market volatilities on SL Green and BRASKM 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 SL Green with a short position of BRASKM. Check out your portfolio center. Please also check ongoing floating volatility patterns of SL Green and BRASKM.
Diversification Opportunities for SL Green and BRASKM
Modest diversification
The 3 months correlation between SLG and BRASKM is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding SL Green Realty and BRASKM 45 31 JAN 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BRASKM 45 31 and SL Green 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 SL Green Realty are associated (or correlated) with BRASKM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BRASKM 45 31 has no effect on the direction of SL Green i.e., SL Green and BRASKM go up and down completely randomly.
Pair Corralation between SL Green and BRASKM
Considering the 90-day investment horizon SL Green Realty is expected to generate 0.5 times more return on investment than BRASKM. However, SL Green Realty is 2.0 times less risky than BRASKM. It trades about 0.05 of its potential returns per unit of risk. BRASKM 45 31 JAN 30 is currently generating about -0.04 per unit of risk. If you would invest 7,758 in SL Green Realty on August 31, 2024 and sell it today you would earn a total of 127.00 from holding SL Green Realty or generate 1.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 59.09% |
| Values | Daily Returns |
SL Green Realty vs. BRASKM 45 31 JAN 30
Performance |
| Timeline |
| SL Green Realty |
| BRASKM 45 31 |
SL Green and BRASKM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SL Green and BRASKM
The main advantage of trading using opposite SL Green and BRASKM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SL Green position performs unexpectedly, BRASKM 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 BRASKM will offset losses from the drop in BRASKM's long position.| SL Green vs. Boston Properties | SL Green vs. Alexandria Real Estate | SL Green vs. Hudson Pacific Properties | SL Green vs. Office Properties Income |
| BRASKM vs. Boston Properties | BRASKM vs. Molson Coors Brewing | BRASKM vs. SL Green Realty | BRASKM vs. Constellation Brands Class |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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