Correlation Between Zueblin Immobilien and Swiss Prime
Can any of the company-specific risk be diversified away by investing in both Zueblin Immobilien and Swiss Prime at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Zueblin Immobilien and Swiss Prime into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Zueblin Immobilien Holding and Swiss Prime Site, you can compare the effects of market volatilities on Zueblin Immobilien and Swiss Prime 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 Zueblin Immobilien with a short position of Swiss Prime. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zueblin Immobilien and Swiss Prime.
Diversification Opportunities for Zueblin Immobilien and Swiss Prime
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Zueblin and Swiss is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Zueblin Immobilien Holding and Swiss Prime Site in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Swiss Prime Site and Zueblin Immobilien 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 Zueblin Immobilien Holding are associated (or correlated) with Swiss Prime. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Swiss Prime Site has no effect on the direction of Zueblin Immobilien i.e., Zueblin Immobilien and Swiss Prime go up and down completely randomly.
Pair Corralation between Zueblin Immobilien and Swiss Prime
Assuming the 90 days trading horizon Zueblin Immobilien Holding is expected to generate 2.31 times more return on investment than Swiss Prime. However, Zueblin Immobilien is 2.31 times more volatile than Swiss Prime Site. It trades about 0.15 of its potential returns per unit of risk. Swiss Prime Site is currently generating about 0.24 per unit of risk. If you would invest 2,960 in Zueblin Immobilien Holding on September 1, 2024 and sell it today you would earn a total of 160.00 from holding Zueblin Immobilien Holding or generate 5.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zueblin Immobilien Holding vs. Swiss Prime Site
Performance |
| Timeline |
| Zueblin Immobilien |
| Swiss Prime Site |
Zueblin Immobilien and Swiss Prime Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zueblin Immobilien and Swiss Prime
The main advantage of trading using opposite Zueblin Immobilien and Swiss Prime positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zueblin Immobilien position performs unexpectedly, Swiss Prime 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 Swiss Prime will offset losses from the drop in Swiss Prime's long position.| Zueblin Immobilien vs. PSP Swiss Property | Zueblin Immobilien vs. Swiss Prime Site | Zueblin Immobilien vs. Helvetia Holding AG | Zueblin Immobilien vs. Baloise Holding AG |
| Swiss Prime vs. PSP Swiss Property | Swiss Prime vs. Allreal Holding | Swiss Prime vs. Helvetia Holding AG | Swiss Prime vs. Baloise Holding AG |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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