Correlation Between Mack Cali and Boston Properties
Can any of the company-specific risk be diversified away by investing in both Mack Cali and Boston Properties 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 Mack Cali and Boston Properties into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mack Cali Realty and Boston Properties, you can compare the effects of market volatilities on Mack Cali and Boston Properties 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 Mack Cali with a short position of Boston Properties. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mack Cali and Boston Properties.
Diversification Opportunities for Mack Cali and Boston Properties
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mack and Boston is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mack Cali Realty and Boston Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boston Properties and Mack Cali 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 Mack Cali Realty are associated (or correlated) with Boston Properties. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boston Properties has no effect on the direction of Mack Cali i.e., Mack Cali and Boston Properties go up and down completely randomly.
Pair Corralation between Mack Cali and Boston Properties
If you would invest (100.00) in Mack Cali Realty on January 25, 2024 and sell it today you would earn a total of 100.00 from holding Mack Cali Realty or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Mack Cali Realty vs. Boston Properties
Performance |
| Timeline |
| Mack Cali Realty |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Boston Properties |
Mack Cali and Boston Properties Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mack Cali and Boston Properties
The main advantage of trading using opposite Mack Cali and Boston Properties positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mack Cali position performs unexpectedly, Boston Properties 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 Boston Properties will offset losses from the drop in Boston Properties' long position.| Mack Cali vs. Joby Aviation | Mack Cali vs. Inter Parfums | Mack Cali vs. Pentair PLC | Mack Cali vs. Corporacion America Airports |
| Boston Properties vs. Equity Commonwealth | Boston Properties vs. Cousins Properties Incorporated | Boston Properties vs. Creative Media Community | Boston Properties vs. Equity Commonwealth |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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