Correlation Between BA Airport and INET Leasehold
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By analyzing existing cross correlation between BA Airport Leasehold and INET Leasehold REIT, you can compare the effects of market volatilities on BA Airport and INET Leasehold 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 BA Airport with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of BA Airport and INET Leasehold.
Diversification Opportunities for BA Airport and INET Leasehold
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BAREIT and INET is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding BA Airport Leasehold and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and BA Airport 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 BA Airport Leasehold are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of BA Airport i.e., BA Airport and INET Leasehold go up and down completely randomly.
Pair Corralation between BA Airport and INET Leasehold
Assuming the 90 days trading horizon BA Airport Leasehold is expected to generate 1.08 times more return on investment than INET Leasehold. However, BA Airport is 1.08 times more volatile than INET Leasehold REIT. It trades about -0.02 of its potential returns per unit of risk. INET Leasehold REIT is currently generating about -0.04 per unit of risk. If you would invest 961.00 in BA Airport Leasehold on September 13, 2024 and sell it today you would lose (11.00) from holding BA Airport Leasehold or give up 1.14% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
BA Airport Leasehold vs. INET Leasehold REIT
Performance |
Timeline |
BA Airport Leasehold |
INET Leasehold REIT |
BA Airport and INET Leasehold Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BA Airport and INET Leasehold
The main advantage of trading using opposite BA Airport and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BA Airport position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.BA Airport vs. Premier Technology Public | BA Airport vs. Lohakit Metal Public | BA Airport vs. Taokaenoi Food Marketing | BA Airport vs. AIM Industrial Growth |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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