Correlation Between Simon Property and Urstadt Biddle
Can any of the company-specific risk be diversified away by investing in both Simon Property and Urstadt Biddle at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Simon Property and Urstadt Biddle into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Simon Property Group and Urstadt Biddle, you can compare the effects of market volatilities on Simon Property and Urstadt Biddle 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 Simon Property with a short position of Urstadt Biddle. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simon Property and Urstadt Biddle.
Diversification Opportunities for Simon Property and Urstadt Biddle
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Simon and Urstadt is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Simon Property Group and Urstadt Biddle in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Urstadt Biddle and Simon Property 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 Simon Property Group are associated (or correlated) with Urstadt Biddle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Urstadt Biddle has no effect on the direction of Simon Property i.e., Simon Property and Urstadt Biddle go up and down completely randomly.
Pair Corralation between Simon Property and Urstadt Biddle
If you would invest 2,250 in Urstadt Biddle on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Urstadt Biddle or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
Simon Property Group vs. Urstadt Biddle
Performance |
| Timeline |
| Simon Property Group |
| Urstadt Biddle |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Simon Property and Urstadt Biddle Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simon Property and Urstadt Biddle
The main advantage of trading using opposite Simon Property and Urstadt Biddle positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simon Property position performs unexpectedly, Urstadt Biddle 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 Urstadt Biddle will offset losses from the drop in Urstadt Biddle's long position.| Simon Property vs. Kimco Realty | Simon Property vs. Saul Centers | Simon Property vs. Saul Centers | Simon Property vs. Urban Edge Properties |
| Urstadt Biddle vs. Regency Centers | Urstadt Biddle vs. Saul Centers | Urstadt Biddle vs. Retail Opportunity Investments | Urstadt Biddle vs. Acadia Realty 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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