Correlation Between British Land and Klépierre
Can any of the company-specific risk be diversified away by investing in both British Land and Klépierre 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 British Land and Klépierre into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between British Land and Klpierre SA, you can compare the effects of market volatilities on British Land and Klépierre 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 British Land with a short position of Klépierre. Check out your portfolio center. Please also check ongoing floating volatility patterns of British Land and Klépierre.
Diversification Opportunities for British Land and Klépierre
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between British and Klépierre is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding British Land and Klpierre SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Klpierre SA and British Land 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 British Land are associated (or correlated) with Klépierre. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Klpierre SA has no effect on the direction of British Land i.e., British Land and Klépierre go up and down completely randomly.
Pair Corralation between British Land and Klépierre
If you would invest 2,950 in Klpierre SA on December 1, 2024 and sell it today you would earn a total of 259.00 from holding Klpierre SA or generate 8.78% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
British Land vs. Klpierre SA
Performance |
Timeline |
British Land |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Klpierre SA |
British Land and Klépierre Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with British Land and Klépierre
The main advantage of trading using opposite British Land and Klépierre positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if British Land position performs unexpectedly, Klépierre 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 Klépierre will offset losses from the drop in Klépierre's long position.British Land vs. Highlands REIT | British Land vs. Fibra UNO | British Land vs. W P Carey | British Land vs. Essential Properties Realty |
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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