Correlation Between Graphic and Simon Property
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By analyzing existing cross correlation between Graphic Packaging International and Simon Property Group, you can compare the effects of market volatilities on Graphic and Simon Property 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 Graphic with a short position of Simon Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Graphic and Simon Property.
Diversification Opportunities for Graphic and Simon Property
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Graphic and Simon is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Graphic Packaging Internationa and Simon Property Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simon Property Group and Graphic 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 Graphic Packaging International are associated (or correlated) with Simon Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simon Property Group has no effect on the direction of Graphic i.e., Graphic and Simon Property go up and down completely randomly.
Pair Corralation between Graphic and Simon Property
Assuming the 90 days trading horizon Graphic Packaging International is expected to under-perform the Simon Property. But the bond apears to be less risky and, when comparing its historical volatility, Graphic Packaging International is 2.39 times less risky than Simon Property. The bond trades about -0.27 of its potential returns per unit of risk. The Simon Property Group is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 17,216 in Simon Property Group on September 3, 2024 and sell it today you would earn a total of 1,144 from holding Simon Property Group or generate 6.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 60.0% |
| Values | Daily Returns |
Graphic Packaging Internationa vs. Simon Property Group
Performance |
| Timeline |
| Graphic Packaging |
| Simon Property Group |
Graphic and Simon Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Graphic and Simon Property
The main advantage of trading using opposite Graphic and Simon Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Graphic position performs unexpectedly, Simon Property 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 Simon Property will offset losses from the drop in Simon Property's long position.| Graphic vs. RCI Hospitality Holdings | Graphic vs. Eldorado Gold Corp | Graphic vs. Chemours Co | Graphic vs. Cannae Holdings |
| Simon Property vs. Federal Realty Investment | Simon Property vs. Agree Realty | Simon Property vs. National Retail Properties | Simon Property 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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