Correlation Between CREDIT and Getty Realty
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By analyzing existing cross correlation between CREDIT SUISSE AG and Getty Realty, you can compare the effects of market volatilities on CREDIT 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 CREDIT with a short position of Getty Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Getty Realty.
Diversification Opportunities for CREDIT and Getty Realty
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between CREDIT and Getty is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Getty Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Getty Realty and CREDIT 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 CREDIT SUISSE AG 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 CREDIT i.e., CREDIT and Getty Realty go up and down completely randomly.
Pair Corralation between CREDIT and Getty Realty
Assuming the 90 days trading horizon CREDIT is expected to generate 54.17 times less return on investment than Getty Realty. But when comparing it to its historical volatility, CREDIT SUISSE AG is 8.13 times less risky than Getty Realty. It trades about 0.03 of its potential returns per unit of risk. Getty Realty is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 3,139 in Getty Realty on September 2, 2024 and sell it today you would earn a total of 149.00 from holding Getty Realty or generate 4.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 85.71% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Getty Realty
Performance |
| Timeline |
| CREDIT SUISSE AG |
| Getty Realty |
CREDIT and Getty Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Getty Realty
The main advantage of trading using opposite CREDIT and Getty Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT 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.| CREDIT vs. Cardinal Health | CREDIT vs. Kura Sushi USA | CREDIT vs. Sweetgreen | CREDIT vs. Ryman Hospitality Properties |
| Getty Realty vs. Federal Realty Investment | Getty Realty vs. National Retail Properties | Getty Realty vs. Kimco 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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