Correlation Between BCECN and JBG SMITH
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By analyzing existing cross correlation between BCECN 215 15 FEB 32 and JBG SMITH Properties, you can compare the effects of market volatilities on BCECN and JBG SMITH 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 BCECN with a short position of JBG SMITH. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCECN and JBG SMITH.
Diversification Opportunities for BCECN and JBG SMITH
Modest diversification
The 3 months correlation between BCECN and JBG is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding BCECN 215 15 FEB 32 and JBG SMITH Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JBG SMITH Properties and BCECN 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 BCECN 215 15 FEB 32 are associated (or correlated) with JBG SMITH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JBG SMITH Properties has no effect on the direction of BCECN i.e., BCECN and JBG SMITH go up and down completely randomly.
Pair Corralation between BCECN and JBG SMITH
Assuming the 90 days trading horizon BCECN 215 15 FEB 32 is expected to generate 0.53 times more return on investment than JBG SMITH. However, BCECN 215 15 FEB 32 is 1.9 times less risky than JBG SMITH. It trades about -0.05 of its potential returns per unit of risk. JBG SMITH Properties is currently generating about -0.06 per unit of risk. If you would invest 8,150 in BCECN 215 15 FEB 32 on December 4, 2024 and sell it today you would lose (80.00) from holding BCECN 215 15 FEB 32 or give up 0.98% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BCECN 215 15 FEB 32 vs. JBG SMITH Properties
Performance |
| Timeline |
| BCECN 215 15 |
| JBG SMITH Properties |
BCECN and JBG SMITH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCECN and JBG SMITH
The main advantage of trading using opposite BCECN and JBG SMITH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCECN position performs unexpectedly, JBG SMITH 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 JBG SMITH will offset losses from the drop in JBG SMITH's long position.| BCECN vs. Sonos Inc | BCECN vs. Thor Industries | BCECN vs. Universal Display | BCECN vs. Academy Sports Outdoors |
| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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