Correlation Between Simon Property and GENERAL
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By analyzing existing cross correlation between Simon Property Group and GENERAL DYNAMICS PORATION, you can compare the effects of market volatilities on Simon Property and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Simon Property and GENERAL.
Diversification Opportunities for Simon Property and GENERAL
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Simon and GENERAL is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Simon Property Group and GENERAL DYNAMICS PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL DYNAMICS 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL DYNAMICS PORATION has no effect on the direction of Simon Property i.e., Simon Property and GENERAL go up and down completely randomly.
Pair Corralation between Simon Property and GENERAL
Considering the 90-day investment horizon Simon Property Group is expected to generate 2.79 times more return on investment than GENERAL. However, Simon Property is 2.79 times more volatile than GENERAL DYNAMICS PORATION. It trades about 0.13 of its potential returns per unit of risk. GENERAL DYNAMICS PORATION is currently generating about 0.02 per unit of risk. If you would invest 10,394 in Simon Property Group on September 12, 2024 and sell it today you would earn a total of 7,416 from holding Simon Property Group or generate 71.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.7% |
| Values | Daily Returns |
Simon Property Group vs. GENERAL DYNAMICS PORATION
Performance |
| Timeline |
| Simon Property Group |
| GENERAL DYNAMICS PORATION |
Simon Property and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Simon Property and GENERAL
The main advantage of trading using opposite Simon Property and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Simon Property position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
| GENERAL vs. Apogee Enterprises | GENERAL vs. Genfit | GENERAL vs. Tarsus Pharmaceuticals | GENERAL vs. Valneva SE ADR |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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