Correlation Between TELES Informationstech and Pebblebrook Hotel
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By analyzing existing cross correlation between TELES Informationstechnologien AG and Pebblebrook Hotel Trust, you can compare the effects of market volatilities on TELES Informationstech and Pebblebrook Hotel 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 TELES Informationstech with a short position of Pebblebrook Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and Pebblebrook Hotel.
Diversification Opportunities for TELES Informationstech and Pebblebrook Hotel
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between TELES and Pebblebrook is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and Pebblebrook Hotel Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pebblebrook Hotel Trust and TELES Informationstech 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 TELES Informationstechnologien AG are associated (or correlated) with Pebblebrook Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pebblebrook Hotel Trust has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and Pebblebrook Hotel go up and down completely randomly.
Pair Corralation between TELES Informationstech and Pebblebrook Hotel
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to under-perform the Pebblebrook Hotel. In addition to that, TELES Informationstech is 1.13 times more volatile than Pebblebrook Hotel Trust. It trades about -0.19 of its total potential returns per unit of risk. Pebblebrook Hotel Trust is currently generating about 0.28 per unit of volatility. If you would invest 1,090 in Pebblebrook Hotel Trust on September 1, 2024 and sell it today you would earn a total of 200.00 from holding Pebblebrook Hotel Trust or generate 18.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TELES Informationstechnologien vs. Pebblebrook Hotel Trust
Performance |
| Timeline |
| TELES Informationstech |
| Pebblebrook Hotel Trust |
TELES Informationstech and Pebblebrook Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and Pebblebrook Hotel
The main advantage of trading using opposite TELES Informationstech and Pebblebrook Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, Pebblebrook Hotel 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 Pebblebrook Hotel will offset losses from the drop in Pebblebrook Hotel's long position.| TELES Informationstech vs. Motorola Solutions | TELES Informationstech vs. Nokia | TELES Informationstech vs. ZTE Corporation | TELES Informationstech vs. Hewlett Packard Enterprise |
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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