Correlation Between Simon Property and COMCAST
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By analyzing existing cross correlation between Simon Property Group and COMCAST PORATION, you can compare the effects of market volatilities on Simon Property and COMCAST 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 COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simon Property and COMCAST.
Diversification Opportunities for Simon Property and COMCAST
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Simon and COMCAST is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Simon Property Group and COMCAST PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST PORATION 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 COMCAST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMCAST PORATION has no effect on the direction of Simon Property i.e., Simon Property and COMCAST go up and down completely randomly.
Pair Corralation between Simon Property and COMCAST
Considering the 90-day investment horizon Simon Property Group is expected to generate 0.99 times more return on investment than COMCAST. However, Simon Property Group is 1.01 times less risky than COMCAST. It trades about 0.27 of its potential returns per unit of risk. COMCAST PORATION is currently generating about 0.2 per unit of risk. If you would invest 17,216 in Simon Property Group on September 4, 2024 and sell it today you would earn a total of 921.00 from holding Simon Property Group or generate 5.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
Simon Property Group vs. COMCAST PORATION
Performance |
| Timeline |
| Simon Property Group |
| COMCAST PORATION |
Simon Property and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simon Property and COMCAST
The main advantage of trading using opposite Simon Property and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simon Property position performs unexpectedly, COMCAST 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 COMCAST will offset losses from the drop in COMCAST'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 |
| COMCAST vs. The Travelers Companies | COMCAST vs. GE Aerospace | COMCAST vs. Walmart | COMCAST vs. Pfizer Inc |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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