Correlation Analysis Between Mid America and American Campus

This module allows you to analyze existing cross correlation between Mid America Apartment Communiti and American Campus Communities. You can compare the effects of market volatilities on Mid America and American Campus 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 Mid America with a short position of American Campus. See also your portfolio center. Please also check ongoing floating volatility patterns of Mid America and American Campus.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Mid America Apartment  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Mid America Apartment Communiti are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat conflicting basic indicators, Mid America may actually be approaching a critical reversion point that can send shares even higher in October 2019.
American Campus Comm  
00

Risk-Adjusted Performance

Over the last 30 days American Campus Communities has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, American Campus is not utilizing all of its potentials. The existing stock price disturbance, may contribute to short term losses for the investors.

Mid America and American Campus Volatility Contrast

 Predicted Return Density 
      Returns 

Mid America Apartment Communit  vs.  American Campus Communities In

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Mid America Apartment Communiti is expected to generate 1.1 times more return on investment than American Campus. However, Mid America is 1.1 times more volatile than American Campus Communities. It trades about 0.13 of its potential returns per unit of risk. American Campus Communities is currently generating about 0.01 per unit of risk. If you would invest  11,826  in Mid America Apartment Communiti on August 18, 2019 and sell it today you would earn a total of  980.00  from holding Mid America Apartment Communiti or generate 8.29% return on investment over 30 days.

Pair Corralation between Mid America and American Campus

0.99
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for Mid America and American Campus

Mid America Apartment Communit diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Mid America Apartment Communit and American Campus Communities In in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Campus Comm and Mid America 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 Mid America Apartment Communiti are associated (or correlated) with American Campus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Campus Comm has no effect on the direction of Mid America i.e. Mid America and American Campus go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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