Correlation Between Cole Real and ATT
Can any of the company-specific risk be diversified away by investing in both Cole Real and ATT 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 Cole Real and ATT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cole Real Estate and ATT Inc, you can compare the effects of market volatilities on Cole Real and ATT 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 Cole Real with a short position of ATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cole Real and ATT.
Diversification Opportunities for Cole Real and ATT
Pay attention - limited upside
The 3 months correlation between Cole and ATT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cole Real Estate and ATT Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc and Cole Real 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 Cole Real Estate are associated (or correlated) with ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT Inc has no effect on the direction of Cole Real i.e., Cole Real and ATT go up and down completely randomly.
Pair Corralation between Cole Real and ATT
If you would invest 0.00 in Cole Real Estate on January 26, 2024 and sell it today you would earn a total of 0.00 from holding Cole Real Estate or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.61% |
| Values | Daily Returns |
Cole Real Estate vs. ATT Inc
Performance |
| Timeline |
| Cole Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ATT Inc |
Cole Real and ATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cole Real and ATT
The main advantage of trading using opposite Cole Real and ATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cole Real position performs unexpectedly, ATT 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 ATT will offset losses from the drop in ATT's long position.| Cole Real vs. Agiliti | Cole Real vs. Lincoln Electric Holdings | Cole Real vs. Unilever PLC ADR | Cole Real vs. Snap On |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |