Correlation Between Getty Realty and AALLN
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By analyzing existing cross correlation between Getty Realty and AALLN 225 17 MAR 28, you can compare the effects of market volatilities on Getty Realty and AALLN 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 Getty Realty with a short position of AALLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Getty Realty and AALLN.
Diversification Opportunities for Getty Realty and AALLN
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Getty and AALLN is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Getty Realty and AALLN 225 17 MAR 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AALLN 225 17 and Getty Realty 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 Getty Realty are associated (or correlated) with AALLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AALLN 225 17 has no effect on the direction of Getty Realty i.e., Getty Realty and AALLN go up and down completely randomly.
Pair Corralation between Getty Realty and AALLN
Considering the 90-day investment horizon Getty Realty is expected to generate 2.6 times less return on investment than AALLN. In addition to that, Getty Realty is 6.5 times more volatile than AALLN 225 17 MAR 28. It trades about 0.05 of its total potential returns per unit of risk. AALLN 225 17 MAR 28 is currently generating about 0.82 per unit of volatility. If you would invest 9,206 in AALLN 225 17 MAR 28 on December 4, 2024 and sell it today you would earn a total of 98.00 from holding AALLN 225 17 MAR 28 or generate 1.06% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 35.0% |
Values | Daily Returns |
Getty Realty vs. AALLN 225 17 MAR 28
Performance |
Timeline |
Getty Realty |
AALLN 225 17 |
Getty Realty and AALLN Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Getty Realty and AALLN
The main advantage of trading using opposite Getty Realty and AALLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Getty Realty position performs unexpectedly, AALLN 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 AALLN will offset losses from the drop in AALLN's long position.Getty Realty vs. Regency Centers | Getty Realty vs. Site Centers Corp | Getty Realty vs. Brixmor Property | Getty Realty vs. Tanger Factory Outlet |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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