Correlation Between ATMOS and Getty Realty
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By analyzing existing cross correlation between ATMOS ENERGY P and Getty Realty, you can compare the effects of market volatilities on ATMOS and Getty 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 ATMOS with a short position of Getty Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATMOS and Getty Realty.
Diversification Opportunities for ATMOS and Getty Realty
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ATMOS and Getty is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ATMOS ENERGY P and Getty Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Getty Realty and ATMOS 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 ATMOS ENERGY P are associated (or correlated) with Getty Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Getty Realty has no effect on the direction of ATMOS i.e., ATMOS and Getty Realty go up and down completely randomly.
Pair Corralation between ATMOS and Getty Realty
Assuming the 90 days trading horizon ATMOS is expected to generate 4.34 times less return on investment than Getty Realty. But when comparing it to its historical volatility, ATMOS ENERGY P is 1.23 times less risky than Getty Realty. It trades about 0.05 of its potential returns per unit of risk. Getty Realty is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 2,585 in Getty Realty on September 13, 2024 and sell it today you would earn a total of 654.50 from holding Getty Realty or generate 25.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 48.0% |
| Values | Daily Returns |
ATMOS ENERGY P vs. Getty Realty
Performance |
| Timeline |
| ATMOS ENERGY P |
| Getty Realty |
ATMOS and Getty Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATMOS and Getty Realty
The main advantage of trading using opposite ATMOS and Getty Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATMOS position performs unexpectedly, Getty 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 Getty Realty will offset losses from the drop in Getty Realty's long position.| ATMOS vs. Monster Beverage Corp | ATMOS vs. Anheuser Busch Inbev | ATMOS vs. National Beverage Corp | ATMOS vs. Vita Coco |
| Getty Realty vs. Regency Centers | Getty Realty vs. Site Centers Corp | Getty Realty vs. Brixmor Property | Getty Realty vs. Tanger Factory Outlet |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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