Correlation Between Urstadt Biddle and Acadia Realty
Can any of the company-specific risk be diversified away by investing in both Urstadt Biddle and Acadia Realty 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 Urstadt Biddle and Acadia Realty into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Urstadt Biddle Properties and Acadia Realty Trust, you can compare the effects of market volatilities on Urstadt Biddle and Acadia Realty 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 Urstadt Biddle with a short position of Acadia Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Urstadt Biddle and Acadia Realty.
Diversification Opportunities for Urstadt Biddle and Acadia Realty
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Urstadt and Acadia is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Urstadt Biddle Properties and Acadia Realty Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acadia Realty Trust and Urstadt Biddle 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 Urstadt Biddle Properties are associated (or correlated) with Acadia Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acadia Realty Trust has no effect on the direction of Urstadt Biddle i.e., Urstadt Biddle and Acadia Realty go up and down completely randomly.
Pair Corralation between Urstadt Biddle and Acadia Realty
If you would invest 2,460 in Acadia Realty Trust on August 27, 2024 and sell it today you would earn a total of 62.00 from holding Acadia Realty Trust or generate 2.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 4.76% |
| Values | Daily Returns |
Urstadt Biddle Properties vs. Acadia Realty Trust
Performance |
| Timeline |
| Urstadt Biddle Properties |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Acadia Realty Trust |
Urstadt Biddle and Acadia Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Urstadt Biddle and Acadia Realty
The main advantage of trading using opposite Urstadt Biddle and Acadia Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Urstadt Biddle position performs unexpectedly, Acadia Realty 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 Acadia Realty will offset losses from the drop in Acadia Realty's long position.| Urstadt Biddle vs. Kimco Realty | Urstadt Biddle vs. Saul Centers | Urstadt Biddle vs. Brixmor Property | Urstadt Biddle vs. Regency Centers |
| Acadia Realty vs. Urban Edge Properties | Acadia Realty vs. Kite Realty Group | Acadia Realty vs. Site Centers Corp | Acadia Realty vs. Retail Opportunity Investments |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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