Correlation Between 38173MAB8 and Sabra Healthcare
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By analyzing existing cross correlation between GBDC 25 24 AUG 26 and Sabra Healthcare REIT, you can compare the effects of market volatilities on 38173MAB8 and Sabra Healthcare 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 38173MAB8 with a short position of Sabra Healthcare. Check out your portfolio center. Please also check ongoing floating volatility patterns of 38173MAB8 and Sabra Healthcare.
Diversification Opportunities for 38173MAB8 and Sabra Healthcare
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between 38173MAB8 and Sabra is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding GBDC 25 24 AUG 26 and Sabra Healthcare REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sabra Healthcare REIT and 38173MAB8 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 GBDC 25 24 AUG 26 are associated (or correlated) with Sabra Healthcare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sabra Healthcare REIT has no effect on the direction of 38173MAB8 i.e., 38173MAB8 and Sabra Healthcare go up and down completely randomly.
Pair Corralation between 38173MAB8 and Sabra Healthcare
Assuming the 90 days trading horizon GBDC 25 24 AUG 26 is expected to under-perform the Sabra Healthcare. But the bond apears to be less risky and, when comparing its historical volatility, GBDC 25 24 AUG 26 is 2.84 times less risky than Sabra Healthcare. The bond trades about -0.09 of its potential returns per unit of risk. The Sabra Healthcare REIT is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,672 in Sabra Healthcare REIT on September 3, 2024 and sell it today you would earn a total of 201.00 from holding Sabra Healthcare REIT or generate 12.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
GBDC 25 24 AUG 26 vs. Sabra Healthcare REIT
Performance |
| Timeline |
| GBDC 25 24 |
| Sabra Healthcare REIT |
38173MAB8 and Sabra Healthcare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 38173MAB8 and Sabra Healthcare
The main advantage of trading using opposite 38173MAB8 and Sabra Healthcare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 38173MAB8 position performs unexpectedly, Sabra Healthcare 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 Sabra Healthcare will offset losses from the drop in Sabra Healthcare's long position.| 38173MAB8 vs. Sabra Healthcare REIT | 38173MAB8 vs. Artisan Partners Asset | 38173MAB8 vs. PennantPark Investment | 38173MAB8 vs. Bluerock Homes Trust |
| Sabra Healthcare vs. Community Healthcare Trust | Sabra Healthcare vs. Universal Health Realty | Sabra Healthcare vs. Global Medical REIT | Sabra Healthcare vs. CareTrust REIT |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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