Correlation Between Urstadt Biddle and Simon Property
Can any of the company-specific risk be diversified away by investing in both Urstadt Biddle and Simon Property 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 Simon Property 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 Simon Property Group, you can compare the effects of market volatilities on Urstadt Biddle and Simon Property 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 Simon Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Urstadt Biddle and Simon Property.
Diversification Opportunities for Urstadt Biddle and Simon Property
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Urstadt and Simon is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Urstadt Biddle Properties and Simon Property Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simon Property Group 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 Simon Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simon Property Group has no effect on the direction of Urstadt Biddle i.e., Urstadt Biddle and Simon Property go up and down completely randomly.
Pair Corralation between Urstadt Biddle and Simon Property
If you would invest 5,910 in Simon Property Group on October 24, 2024 and sell it today you would earn a total of 40.00 from holding Simon Property Group or generate 0.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Urstadt Biddle Properties vs. Simon Property Group
Performance |
| Timeline |
| Urstadt Biddle Properties |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Simon Property Group |
Urstadt Biddle and Simon Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Urstadt Biddle and Simon Property
The main advantage of trading using opposite Urstadt Biddle and Simon Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Urstadt Biddle position performs unexpectedly, Simon Property 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 Simon Property will offset losses from the drop in Simon Property's long position.| Urstadt Biddle vs. Kimco Realty | Urstadt Biddle vs. Saul Centers | Urstadt Biddle vs. Brixmor Property | Urstadt Biddle vs. Regency Centers |
| Simon Property vs. Kimco Realty | Simon Property vs. Saul Centers | Simon Property vs. Saul Centers | Simon Property vs. Urban Edge Properties |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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