Correlation Between Site Centers and CapitaLand Integrated

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Can any of the company-specific risk be diversified away by investing in both Site Centers and CapitaLand Integrated 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 Site Centers and CapitaLand Integrated into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Site Centers Corp and CapitaLand Integrated Commercial, you can compare the effects of market volatilities on Site Centers and CapitaLand Integrated 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 Site Centers with a short position of CapitaLand Integrated. Check out your portfolio center. Please also check ongoing floating volatility patterns of Site Centers and CapitaLand Integrated.

Diversification Opportunities for Site Centers and CapitaLand Integrated

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  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Site Centers and CapitaLand Integrated

If you would invest  1,107  in Site Centers Corp on September 7, 2024 and sell it today you would earn a total of  431.00  from holding Site Centers Corp or generate 38.93% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Site Centers Corp  vs.  CapitaLand Integrated Commerci

 Performance 
       Timeline  
Site Centers Corp 

Risk-Adjusted Performance

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Compared to the overall equity markets, risk-adjusted returns on investments in Site Centers Corp are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of rather uncertain basic indicators, Site Centers exhibited solid returns over the last few months and may actually be approaching a breakup point.
CapitaLand Integrated 

Risk-Adjusted Performance

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Over the last 90 days CapitaLand Integrated Commercial has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable primary indicators, CapitaLand Integrated is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Site Centers and CapitaLand Integrated Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Site Centers and CapitaLand Integrated

The main advantage of trading using opposite Site Centers and CapitaLand Integrated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Site Centers position performs unexpectedly, CapitaLand Integrated 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 CapitaLand Integrated will offset losses from the drop in CapitaLand Integrated's long position.
The idea behind Site Centers Corp and CapitaLand Integrated Commercial 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.
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.

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