Correlation Between Urstadt Biddle and Saul Centers
Can any of the company-specific risk be diversified away by investing in both Urstadt Biddle and Saul Centers 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 Saul Centers 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 Saul Centers, you can compare the effects of market volatilities on Urstadt Biddle and Saul Centers 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 Saul Centers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Urstadt Biddle and Saul Centers.
Diversification Opportunities for Urstadt Biddle and Saul Centers
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Urstadt and Saul is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Urstadt Biddle Properties and Saul Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saul Centers 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 Saul Centers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saul Centers has no effect on the direction of Urstadt Biddle i.e., Urstadt Biddle and Saul Centers go up and down completely randomly.
Pair Corralation between Urstadt Biddle and Saul Centers
If you would invest 3,966 in Saul Centers on August 28, 2024 and sell it today you would earn a total of 90.00 from holding Saul Centers or generate 2.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Urstadt Biddle Properties vs. Saul Centers
Performance |
| Timeline |
| Urstadt Biddle Properties |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Saul Centers |
Urstadt Biddle and Saul Centers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Urstadt Biddle and Saul Centers
The main advantage of trading using opposite Urstadt Biddle and Saul Centers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Urstadt Biddle position performs unexpectedly, Saul Centers 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 Saul Centers will offset losses from the drop in Saul Centers' long position.| Urstadt Biddle vs. Kimco Realty | Urstadt Biddle vs. Saul Centers | Urstadt Biddle vs. Brixmor Property | Urstadt Biddle vs. Regency Centers |
| Saul Centers vs. Urban Edge Properties | Saul Centers vs. Site Centers Corp | Saul Centers vs. Kite Realty Group | Saul Centers vs. Acadia Realty Trust |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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