Correlation Between Simon Property and 05565QDH8
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By analyzing existing cross correlation between Simon Property Group and BP CAP MKTS, you can compare the effects of market volatilities on Simon Property and 05565QDH8 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 05565QDH8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simon Property and 05565QDH8.
Diversification Opportunities for Simon Property and 05565QDH8
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Simon and 05565QDH8 is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Simon Property Group and BP CAP MKTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BP CAP MKTS 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 05565QDH8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BP CAP MKTS has no effect on the direction of Simon Property i.e., Simon Property and 05565QDH8 go up and down completely randomly.
Pair Corralation between Simon Property and 05565QDH8
Considering the 90-day investment horizon Simon Property Group is expected to under-perform the 05565QDH8. In addition to that, Simon Property is 5.97 times more volatile than BP CAP MKTS. It trades about -0.1 of its total potential returns per unit of risk. BP CAP MKTS is currently generating about -0.38 per unit of volatility. If you would invest 9,733 in BP CAP MKTS on October 7, 2024 and sell it today you would lose (182.00) from holding BP CAP MKTS or give up 1.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Simon Property Group vs. BP CAP MKTS
Performance |
| Timeline |
| Simon Property Group |
| BP CAP MKTS |
Simon Property and 05565QDH8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simon Property and 05565QDH8
The main advantage of trading using opposite Simon Property and 05565QDH8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simon Property position performs unexpectedly, 05565QDH8 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 05565QDH8 will offset losses from the drop in 05565QDH8's long position.| Simon Property vs. Federal Realty Investment | Simon Property vs. Agree Realty | Simon Property vs. National Retail Properties | Simon Property vs. Kimco Realty |
| 05565QDH8 vs. Brunswick | 05565QDH8 vs. Ameriprise Financial | 05565QDH8 vs. PACCAR Inc | 05565QDH8 vs. Modine Manufacturing |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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