Correlation Between 548661EJ2 and Simon Property
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By analyzing existing cross correlation between LOW 425 01 APR 52 and Simon Property Group, you can compare the effects of market volatilities on 548661EJ2 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 548661EJ2 with a short position of Simon Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of 548661EJ2 and Simon Property.
Diversification Opportunities for 548661EJ2 and Simon Property
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 548661EJ2 and Simon is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding LOW 425 01 APR 52 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 548661EJ2 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 LOW 425 01 APR 52 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 548661EJ2 i.e., 548661EJ2 and Simon Property go up and down completely randomly.
Pair Corralation between 548661EJ2 and Simon Property
Assuming the 90 days trading horizon 548661EJ2 is expected to generate 4.76 times less return on investment than Simon Property. But when comparing it to its historical volatility, LOW 425 01 APR 52 is 1.1 times less risky than Simon Property. It trades about 0.03 of its potential returns per unit of risk. Simon Property Group is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 16,972 in Simon Property Group on September 13, 2024 and sell it today you would earn a total of 887.50 from holding Simon Property Group or generate 5.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 93.02% |
| Values | Daily Returns |
LOW 425 01 APR 52 vs. Simon Property Group
Performance |
| Timeline |
| LOW 425 01 |
| Simon Property Group |
548661EJ2 and Simon Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 548661EJ2 and Simon Property
The main advantage of trading using opposite 548661EJ2 and Simon Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 548661EJ2 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.| 548661EJ2 vs. Simon Property Group | 548661EJ2 vs. Chewy Inc | 548661EJ2 vs. Olympic Steel | 548661EJ2 vs. Titan Machinery |
| 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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