Correlation Between Walker Dunlop and SIMON
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By analyzing existing cross correlation between Walker Dunlop and SIMON PPTY GROUP, you can compare the effects of market volatilities on Walker Dunlop and SIMON 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 Walker Dunlop with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and SIMON.
Diversification Opportunities for Walker Dunlop and SIMON
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Walker and SIMON is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and SIMON PPTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PPTY GROUP and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PPTY GROUP has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and SIMON go up and down completely randomly.
Pair Corralation between Walker Dunlop and SIMON
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.95 times more return on investment than SIMON. However, Walker Dunlop is 1.05 times less risky than SIMON. It trades about 0.05 of its potential returns per unit of risk. SIMON PPTY GROUP is currently generating about -0.15 per unit of risk. If you would invest 10,870 in Walker Dunlop on September 1, 2024 and sell it today you would earn a total of 148.00 from holding Walker Dunlop or generate 1.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 80.95% |
| Values | Daily Returns |
Walker Dunlop vs. SIMON PPTY GROUP
Performance |
| Timeline |
| Walker Dunlop |
| SIMON PPTY GROUP |
Walker Dunlop and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and SIMON
The main advantage of trading using opposite Walker Dunlop and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, SIMON 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 will offset losses from the drop in SIMON's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| SIMON vs. Comstock Holding Companies | SIMON vs. Black Hills | SIMON vs. Sabre Corpo | SIMON vs. Aegon NV ADR |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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