Correlation Between Urban Edge and Kelly Strategic
Can any of the company-specific risk be diversified away by investing in both Urban Edge and Kelly Strategic 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 Urban Edge and Kelly Strategic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Urban Edge Properties and Kelly Strategic Management, you can compare the effects of market volatilities on Urban Edge and Kelly Strategic 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 Urban Edge with a short position of Kelly Strategic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Urban Edge and Kelly Strategic.
Diversification Opportunities for Urban Edge and Kelly Strategic
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Urban and Kelly is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Urban Edge Properties and Kelly Strategic Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kelly Strategic Mana and Urban Edge 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 Urban Edge Properties are associated (or correlated) with Kelly Strategic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kelly Strategic Mana has no effect on the direction of Urban Edge i.e., Urban Edge and Kelly Strategic go up and down completely randomly.
Pair Corralation between Urban Edge and Kelly Strategic
If you would invest 2,199 in Urban Edge Properties on September 2, 2024 and sell it today you would earn a total of 102.00 from holding Urban Edge Properties or generate 4.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 0.0% |
| Values | Daily Returns |
Urban Edge Properties vs. Kelly Strategic Management
Performance |
| Timeline |
| Urban Edge Properties |
| Kelly Strategic Mana |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Urban Edge and Kelly Strategic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Urban Edge and Kelly Strategic
The main advantage of trading using opposite Urban Edge and Kelly Strategic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Urban Edge position performs unexpectedly, Kelly Strategic 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 Kelly Strategic will offset losses from the drop in Kelly Strategic's long position.| Urban Edge vs. Federal Realty Investment | Urban Edge vs. National Retail Properties | Urban Edge vs. Kimco Realty |
| Kelly Strategic vs. RLJ Lodging Trust | Kelly Strategic vs. Nexpoint Residential Trust | Kelly Strategic vs. Urban Edge Properties | Kelly Strategic vs. Terreno Realty |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |