Correlation Between Artemis Strategic and Plaza Retail

Can any of the company-specific risk be diversified away by investing in both Artemis Strategic and Plaza Retail 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 Artemis Strategic and Plaza Retail into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Artemis Strategic Investment and Plaza Retail REIT, you can compare the effects of market volatilities on Artemis Strategic and Plaza Retail 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 Artemis Strategic with a short position of Plaza Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artemis Strategic and Plaza Retail.

Diversification Opportunities for Artemis Strategic and Plaza Retail

0.0

Correlation Coefficient

Artemis Strategic  Plaza Retail

Pay attention - limited upside

The 3 months correlation between Artemis and Plaza is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Artemis Strategic Investment and Plaza Retail REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Plaza Retail REIT and Artemis Strategic 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 Artemis Strategic Investment are associated (or correlated) with Plaza Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Plaza Retail REIT has no effect on the direction of Artemis Strategic i.e., Artemis Strategic and Plaza Retail go up and down completely randomly.

Pair Corralation between Artemis Strategic and Plaza Retail

If you would invest  246.00  in Plaza Retail REIT on December 26, 2024 and sell it today you would earn a total of  16.00  from holding Plaza Retail REIT or generate 6.5% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Artemis Strategic Investment  vs.  Plaza Retail REIT

Artemis Strategic

Risk-Adjusted Performance

Very Weak

Over the last 90 days Artemis Strategic Investment has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Artemis Strategic is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Plaza Retail REIT

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Plaza Retail REIT are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Plaza Retail may actually be approaching a critical reversion point that can send shares even higher in April 2025.

Pair Trading with Artemis Strategic and Plaza Retail

The main advantage of trading using opposite Artemis Strategic and Plaza Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artemis Strategic position performs unexpectedly, Plaza Retail 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 Plaza Retail will offset losses from the drop in Plaza Retail's long position.

The idea behind Artemis Strategic Investment and Plaza Retail REIT pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.