Correlation Analysis Between Boston Properties and Alexandria Real

This module allows you to analyze existing cross correlation between Boston Properties and Alexandria Real Estate Equities. You can compare the effects of market volatilities on Boston Properties and Alexandria Real 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 Boston Properties with a short position of Alexandria Real. See also your portfolio center. Please also check ongoing floating volatility patterns of Boston Properties and Alexandria Real.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Boston Properties  
00

Risk-Adjusted Performance

Over the last 30 days Boston Properties has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite very unfluctuating forward-looking indicators, Boston Properties is not utilizing all of its potentials. The ongoing stock price disarray, may contribute to short term momentum losses for the insiders.
Alexandria Real Estate  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Alexandria Real Estate Equities are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. In spite of rather conflicting fundamental drivers, Alexandria Real may actually be approaching a critical reversion point that can send shares even higher in November 2019.

Boston Properties and Alexandria Real Volatility Contrast

 Predicted Return Density 
      Returns 

Boston Properties Inc  vs.  Alexandria Real Estate Equitie

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Boston Properties is expected to under-perform the Alexandria Real. In addition to that, Boston Properties is 1.08 times more volatile than Alexandria Real Estate Equities. It trades about -0.04 of its total potential returns per unit of risk. Alexandria Real Estate Equities is currently generating about 0.12 per unit of volatility. If you would invest  14,304  in Alexandria Real Estate Equities on September 14, 2019 and sell it today you would earn a total of  1,045  from holding Alexandria Real Estate Equities or generate 7.31% return on investment over 30 days.

Pair Corralation between Boston Properties and Alexandria Real

0.09
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Boston Properties and Alexandria Real

Boston Properties Inc diversification synergy

Significant diversification

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